(AURN News) — Walmart is warning that U.S. shoppers should prepare to pay more as a result of updated tariffs on imported goods — raising fresh questions about the cost of President Donald Trump‘s ongoing trade strategy with China.
According to CNBC, Walmart says the tariffs are too steep for suppliers to absorb, and consumers will likely begin seeing higher prices by the end of the month — with more noticeable increases expected in June.
“It’s more than any supplier can absorb. And so I’m concerned that the consumer is going to start seeing higher prices,” said Walmart Chief Financial Officer John David Rainey in an interview with the network.
The updated tariffs — set at 30% for a 90-day period — are the latest development in a trade dispute that Trump has continued to portray as a success.
Last week, the president posted on Truth Social: “A very good meeting today with China, in Switzerland. Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner. We want to see, for the good of both China and the U.S., an opening up of China to American business. GREAT PROGRESS MADE!!!”
Experts have noted that companies often pass tariff-related costs on to consumers, with some calling the policy a “hidden tax” on the American public.
Click play to listen to the AURN News report from Jamie Jackson:
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