Treasury Secretary Scott Bessent said Walmart will absorb some of President Trump’s tariffs, but warned that consumers could still face higher prices, according to USA TODAY.
Bessent said Walmart CEO Doug McMillon emphasized efforts to limit price hikes, but acknowledged on an earnings call that some costs will rise. Trump had publicly urged the retailer to “eat the tariffs” and shield shoppers. Despite this, Bessent admitted some of the burden may still fall on consumers.
While Trump claims other nations pay tariff costs, economists argue U.S. businesses—and ultimately shoppers—bear the brunt. A temporary tariff truce with China is in place as negotiations continue.
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