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Business & Economy

Business & Economy

The Big Story

Walmart raising prices with tariffs driving up costs

The retail giant said it plans to raise prices this month and early this summer, passing along some of the cost as tariff-affected merchandise hits store shelves.

© The Associated Press

“The magnitude and speed at which these prices are coming to us is somewhat unprecedented in history,” Walmart Chief Financial Officer John David Rainey told The Wall Street Journal.

Walmart also announced its profits slipped in the first quarter of the year, to $4.45 billion or 56 cents per share, from $5.10 billion or 63 cents per share, The Associated Press noted.

It did not issue a profit outlook, given the uncertainty surrounding Trump’s tariff regime, joining a number of other companies that have taken the same stance.

Walmart sells all kinds of low-cost household goods and apparel that could be hammered by Trump’s tariffs.

The Trump administration this week made a significant pivot with one of the largest U.S. trade partners, China, which has factories that produce a number of products found on U.S. shelves.

Read more here.

Welcome to The Hill’s Business & Economy newsletter, I'm Sylvan Lane — covering the intersection of Wall Street and Pennsylvania Avenue.

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