Walmart warned Thursday that it will have to raise prices on its products after the Trump administration slapped additional tariffs on goods imported from China.
“We’re monitoring the tariff discussions and are hopeful that an agreement can be reached,†the retail giant's chief financial officer, Brett Biggs, told The Associated Press, adding that increased tariffs "will lead to increased prices for our customers.â€
The comments came after Walmart posted its best sales performance for the first fiscal quarter in nine years, marking 19 straight quarters of same-store sales gains, the AP noted.
Walmart did not specify the scope of the price hikes, but the warning was echoed by Macy’s CEO, Jeff Gennette, who reportedly told investors that prices for both store label and national brands could rise if another round of tariffs are slapped on China
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https://thehill.com/policy/finance/444029-walmart-warns-of-higher-prices-from-tariffs