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Walmart blames tariffs for higher prices
The Street
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5/18/2025
Walmart CEO Doug McMillan made the announcement.
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Sports
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00:00
The world's largest retailer is raising prices, and it's blaming the White House.
00:04
Walmart announced it has no choice but to increase the prices on some of its items,
00:08
claiming President Trump's trade war is upping the company's costs.
00:11
On its recent earnings call, CEO Doug McMillan told investors,
00:15
we will do our best to keep our prices as low as possible.
00:18
But given the magnitude of the tariffs, even at the reduced levels announced this week,
00:22
we aren't able to absorb all the pressure given the reality of narrow retail margins.
00:26
The higher tariffs will result in higher prices.
00:30
Unlike many of its competitors, only a small portion of Walmart's inventory comes from China,
00:34
around 15%.
00:35
Groceries make up around 60% of its items, and most of those are sourced from within the U.S.
00:40
In its earnings call, the retailer said sales at stores open for at least one year rose 4.5% last quarter.
00:46
Walmart said the price hikes will go into effect later in May.
00:50
That'll do it for your Daily Briefing.
00:51
From New York City, I'm Kelsey Barbario with The Street.
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