Hey there, folks! Today, in a twist that's got everyone talking, U.S. President Donald Trump took to Truth Social and told retail giant Walmart to 'eat the tariffs' instead of hiking prices on everyday items. 😮
Trump's message put the spotlight on who should foot the bill for extra charges on imported goods. He argued that while Walmart raked in billions last year, it should absorb these tariff costs rather than shifting the burden to its customers.
On the other hand, Walmart's chief executive Doug McMillon stressed that the company is doing its best to keep prices low. With about a third of its products coming from abroad, the impact of these extra fees is undeniable. And it's not just Walmart—other retailers like Target and Best Buy are also warning about potential price hikes.
Economists from Wells Fargo added that even though the core Consumer Price Index has shown a slow trend toward lower inflation, these tariffs might disrupt that progress, possibly nudging up costs for a wide range of goods, from vehicles to apparel.
For young shoppers and professionals always on the go and plugged into global trends, this debate is a vivid reminder of how interconnected our world is—be it in boardrooms or via our smartphones. What are your thoughts on who should really bear the cost? 🤔
Reference(s):
Trump demands Walmart 'eat the tariffs' amid potential price hikes
cgtn.com
