7 sources·Business

Walmart Warns of Potential Price Hikes Due to Proposed Tariffs by Trump

Walmart CFO states price increases may occur if new tariffs are enacted, despite commitment to everyday low prices.

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Updated: Nov 19th, 2024, 6:42 PM ET

Summary

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Walmart's CFO John David Rainey cautions that the retailer may need to raise prices if President-elect Trump's proposed tariffs take effect. Although Walmart's model focuses on low prices, Tariffs, which could reach up to 60% on imports from China, threaten to inflate costs for consumers. Rainey notes two-thirds of Walmart's products are sourced domestically, which may insulate them from price hikes. Other retailers like Lowe's and e.l.f. Beauty share similar concerns about the impact of tariffs on pricing, which could significantly affect consumer expenses.

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