Walmart Says Prices Will Spike in About Two Weeks as Trump’s Tariffs Hit

The U.S. is currently charging a 30% tariff on most goods coming from China, down from the 145% tariffs President Donald Trump had imposed in the aftermath of his April 2 “Liberation Day” announcement. Online retailers like Temu and Shein have already been hit with higher prices, but the question on every American consumer’s mind right now is when we’ll start to see those higher prices reflected at our local stores. The answer, according to Walmart, is at the end of May. Walmart CEO Doug McMillon explained the situation on an earnings call Thursday, saying there are categories of goods that need to be imported, and noting that the “prices of those things are likely going to go up, and that’s not good for consumers.” McMillon praised the Trump regime for lowering the tariffs on China, though economists will tell you the pause is both temporary and an extremely large new tax on all goods coming from overseas. A universal tariff of 10% on goods coming from every other country around the ... Read full article.