• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Millennials say they’ll refuse to care for aging boomer parents—but they’ll be forced to as their inheritance shrinks to 40 cents on the dollar

2

The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line

3

Jensen Huang says ‘a lot’ of six-figure jobs in plumbing and construction will soon be unlocked because someone needs to build new AI centers

1

Millennials say they’ll refuse to care for aging boomer parents—but they’ll be forced to as their inheritance shrinks to 40 cents on the dollar

2

The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line

3

Jensen Huang says ‘a lot’ of six-figure jobs in plumbing and construction will soon be unlocked because someone needs to build new AI centers
Economy

Trump tells Walmart to ‘EAT THE TARIFFS’ after retail giant warns on price hikes from higher import taxes

By
Josh Boak
Josh Boak
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Josh Boak
Josh Boak
and
The Associated Press
The Associated Press
Down Arrow Button Icon
May 17, 2025, 1:54 PM ET
A Walmart store in Englewood, Colo., on May 13.
A Walmart store in Englewood, Colo., on May 13.David Zalubowski—AP Photo
Add Fortune on Google for similar content.

President Donald Trump on Saturday ripped into Walmart, saying on social media that the retail giant should eat the additional costs created by his tariffs.

Recommended Video

As Trump has jacked up import taxes, he has tried to assure a skeptical public that foreign producers would pay for those taxes and that retailers and automakers would absorb the additional expenses. Most economic analyses are deeply skeptical of those claims and have warned that the trade penalties would worsen inflation. Walmart warned on Thursday that everything from bananas to children’s car seats could increase in price.

Trump, in his Truth Social post, lashed out at the retailer, which employs 1.6 million people in the United States. He said the company, based in Bentonville, Arkansas, should sacrifice its profits for the sake of his economic agenda that he says will eventually lead to more domestic jobs in manufacturing.

“Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain,” Trump posted. “Walmart made BILLIONS OF DOLLARS last year, far more than expected. Between Walmart and China they should, as is said, “EAT THE TARIFFS,” and not charge valued customers ANYTHING. I’ll be watching, and so will your customers!!!”

The posting by the Republican president reflected the increasingly awkward series of choices that many major American companies face as a result of his tariffs, from deteriorating sales to the possibility of incurring Trump’s wrath. Trump has similarly warned domestic automakers to not raise their prices, even though outside analyses say his tariffs would raise production costs.

So far, those tariffs have darkened the mood of an otherwise resilient U.S. economy. The preliminary reading of the University of Michigan survey of consumer sentiment on Friday slipped to its second lowest measure on record, with roughly 75% of respondents “spontaneously” mentioning tariffs as they largely expected inflation to accelerate.

In April, Walmart CEO Doug McMillon was among the retail executives who met with Trump at the White House to discuss tariffs. But the Trump administration went forward despite warnings and has attacked other companies such as Amazon and Apple that are struggling with the disruptions to their supply chains.

Walmart chief financial officer John David Rainey said he thinks $350 car seats made in China will soon cost an additional $100, a 29% price increase.

“We’re wired to keep prices low, but there’s a limit to what we can bear, or any retailer for that matter,” he told The Associated Press on Thursday after the company reported strong first-quarter sales.

The administration recently ratcheted down its 145% tariffs on China to 30% for a 90-day period. Trump has placed tariffs as high as 25% on Mexico and Canada due to illegal immigration and drug trafficking, harming the relationship with America’s two largest trading partners.

There is a universal baseline tariff of 10% on most countries as Trump promises to reach trade deals in the coming weeks after having shocked the financial markets in early April by charging higher import taxes based on trade deficits with other countries. Trump insists he intends to preserve the tariffs as a revenue source and that a framework agreement with the United Kingdom would largely keep the 10% tariff rate in place.

Trump has also placed import taxes on autos, steel and aluminum and plans to do so on pharmaceutical drugs, among other products.

The tariffs and Trump’s own reversals on how much he should charge have generated uncertainty across the U.S. economy, such that Federal Reserve Chair Jerome Powell has held the central bank’s benchmark rates steady until there is more clarity. Powell has warned that tariffs can both hurt growth and raise prices.

On Saturday, Trump repeated his calls for Powell to cut the benchmark rates. That could cause inflation to accelerate, but the president has maintained that inflationary pressures have largely disappeared from the economy.

“Too Late Powell, a man legendary for being Too Late, will probably blow it again – But who knows???” Trump posted on Truth Social.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Authors
By Josh Boak
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Economy

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Economy

Exxon, Chevron warn fuel prices to endure as war knocks refining
Energyfuel
Exxon, Chevron warn fuel prices to endure as war knocks refining
By Kevin Crowley and BloombergAugust 1, 2026
3 hours ago
Bessent joins Japan to help reverse months of yen losses
EconomyCurrency
Bessent joins Japan to help reverse months of yen losses
By Shintaro Inkyo, Masahiro Hidaka and BloombergAugust 1, 2026
3 hours ago
A dead SpaceX rocket that’s been adrift for over a year is about to slam into the moon, carving out a new crater with the equivalent of 3 tons of TNT
Innovationspace
A dead SpaceX rocket that’s been adrift for over a year is about to slam into the moon, carving out a new crater with the equivalent of 3 tons of TNT
By Marcia Dunn and The Associated PressAugust 1, 2026
4 hours ago
stock
InvestingMarkets
Stocks finish wild month with Amazon rising, Apple sinking and Seoul’s best day ever resulting in a 22% loss
By Stan Choe and The Associated PressAugust 1, 2026
6 hours ago
t
EconomyWhite House
Trump promised ‘rocket fuel.’ The economy got a ‘big yawn’ housing bill and higher debt than defense costs instead
By Josh Boak and The Associated PressAugust 1, 2026
6 hours ago
Warsh considering reducing number of Fed meetings, NYT reports
EconomyFederal Reserve
Warsh considering reducing number of Fed meetings, NYT reports
By Enda Curran and BloombergJuly 31, 2026
20 hours ago

Most Popular

Millennials say they’ll refuse to care for aging boomer parents—but they’ll be forced to as their inheritance shrinks to 40 cents on the dollar
Personal Finance
Millennials say they’ll refuse to care for aging boomer parents—but they’ll be forced to as their inheritance shrinks to 40 cents on the dollar
By Nick LichtenbergJuly 31, 2026
1 day ago
The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line
Retail
The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line
By Tatiana SatauaJuly 31, 2026
1 day ago
Jensen Huang says ‘a lot’ of six-figure jobs in plumbing and construction will soon be unlocked because someone needs to build new AI centers
Success
Jensen Huang says ‘a lot’ of six-figure jobs in plumbing and construction will soon be unlocked because someone needs to build new AI centers
By Preston ForeAugust 1, 2026
5 hours ago
'Retiring backwards': How cold economic reality forced Gen X into something like the reverse of baby boomers' golden years
Success
'Retiring backwards': How cold economic reality forced Gen X into something like the reverse of baby boomers' golden years
By Nick LichtenbergJuly 31, 2026
1 day ago
Jensen Huang says this is the greatest time in history to start a business—and his advice is to stop overthinking it: 'How hard can it be?’
Success
Jensen Huang says this is the greatest time in history to start a business—and his advice is to stop overthinking it: 'How hard can it be?’
By Preston ForeJuly 31, 2026
1 day ago
Tim Cook signed off on his final Apple earnings call with a warning about a ‘100-year flood’ in memory chip pricing
Big Tech
Tim Cook signed off on his final Apple earnings call with a warning about a ‘100-year flood’ in memory chip pricing
By Alexei OreskovicJuly 30, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.