Walmart Warns Price Hikes Are Coming, Thanks to Trump’s Tariffs

(AP Photo/David Zalubowski)

Walmart has warned consumers it’s raising prices later this month and placed the blame squarely on President Donald Trump’s tariffs.

Ahead of its earnings call, the retail giant said Thursday that consumers should expect to see price hikes on a range of goods starting this month, a direct result of the ongoing economic fallout from Trump’s global trade war.

Despite a recent reduction in tariff levels, Walmart CEO Doug McMillon is set to tell consumers: “We will do our best to keep our prices as low as possible but given the magnitude of the tariffs, even at the reduced levels announced this week, we aren’t able to absorb all the pressure given the reality of narrow retail margins.”

Walmart’s CFO John David Rainey appeared on CNBC Thursday to outline when the pinch will hit wallets.

“Likely towards the tail end of this month, and then certainly much more in June,” he said.

While tariffs on Chinese goods have been partially rolled back, the U.S. still slaps a 30% levy on most imports from China – and the broader 10% universal tariff remains in play. That’s left major retailers scrambling to manage costs without alienating shoppers.

Despite the looming hikes, Walmart’s U.S. business is holding firm, CNN reports. The company reported a 4.5% increase in same-store sales, bolstered by grocery growth and an influx of higher-income customers.