• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Stock

Walmart will likely raise some prices if Trump tariffs take effect, CFO says

by November 19, 2024
written by November 19, 2024

Walmart’s CFO John David Rainey said the retailer would likely have to raise prices on some items if President-elect Donald Trump’s proposed tariffs take effect.

“We never want to raise prices,” he said in an interview with CNBC on Tuesday. “Our model is everyday low prices. But there probably will be cases where prices will go up for consumers.”

Rainey added that it’s too soon to say which products could cost more due to the tariffs.

Walmart’s CFO weighed in on the potential policy change as the company beat Wall Street’s earnings and sales expectations and hiked its full-year forecast.

Walmart’s comments are the latest warning from U.S. retail leaders about the potential blowback from from the duties. During Trump’s presidential campaign, he said he would impose a 10% to 20% tariff on all imports, including levies as high as 60% to 100% for goods from China.

In a statement earlier this month, National Retail Federation CEO Matthew Shay described across-the-board tariffs as “a tax on American families.” He said it “will drive inflation and price increases and will result in job losses.”

The prospect of increased prices comes as inflation has moderated in the U.S., after years of stretching consumers’ wallets.

Other retailers and brands have also spoken out about the potential drawbacks of the tariffs. E.l.f. Beauty CEO Tarang Amin told CNBC in an interview earlier this month that the company could be forced to raise prices if the higher duties take effect. Footwear maker Steve Madden said it will reduce the goods it imports from China by as much as 45% over the next year to try to avoid the financial impact.

The majority of goods Walmart sells are not at risk of tariffs. Rainey said about two-thirds of the items that Walmart sells are made, grown or assembled in the U.S.

Like other companies, Walmart has tried to import from different parts of the world rather than rely heavily on China or any one country, he said. Rainey added that levies placed during Trump’s first administration already caused the company to adjust.

“We’ve been living under a tariff environment for seven years, so we’re pretty familiar with that,” he said. “Tariffs, though, are inflationary for customers, so we want to work with suppliers and with our own private brand assortment to try to bring down prices.”

Like Walmart, Lowe’s said it’s also made moves to diversify its supply chain. The home improvement retailer addressed the potential levies as it reported earnings on Tuesday.

CFO Brandon Sink said about 40% of the company’s cost of goods sold comes from outside of the U.S., including direct imports and merchandise from national brands. He said tariffs “certainly would add product costs,” but added “timing and details remain uncertain at this point.”

“We believe we’re well prepared to respond when and if it does happen,” he said.

— CNBC’s Gabrielle Fonrouge contributed to this report.

This post appeared first on NBC NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Graham asks 51 intel officials on Hunter laptop letter if they’d still sign it now amid threats to clearances
next post
Sweden, Finland and Norway release new advice on surviving war amid concerns over Russia, Ukraine escalation

related articles

YouTube to pay $24 million to settle Trump...

October 1, 2025

Charlie Javice sentenced to 7 years in prison...

October 1, 2025

Video game maker Electronic Arts to be acquired...

October 1, 2025

Nearly 200,000 BMWs recalled over potential fire risk

September 30, 2025

Trump says U.S. will impose new tariffs on...

September 29, 2025

Former Fed chairs warn that removing Lisa Cook...

September 27, 2025

Amazon to pay $2.5 billion to settle FTC...

September 27, 2025

The charm of watching movies in theaters is...

September 25, 2025

Ben & Jerry’s co-founder resigns, claiming parent company...

September 18, 2025

LimeWire acquires Fyre Festival, asking ‘What Could Possibly...

September 17, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • ‘Gut check time’: Dissent among Senate GOP ranks threatens to reduce Trump’s spending cut demand

    July 10, 2025
  • Bitcoin price is turning to the bearish side again

    August 16, 2024
  • Starbucks imposes new limits on what baristas can wear under their green aprons

    April 23, 2025
  • Trump says he’s ‘not happy’ with Putin after massive Ukraine strike

    May 26, 2025
  • GOP defectors help Senate advance resolution to cancel Trump tariffs despite White House veto warning

    April 3, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,247)
  • Investing (634)
  • Stock (935)

Latest Posts

  • AUDUSD and AUDNZD: AUDUSD remains weak at the support

    July 29, 2024
  • Trump says he had ‘productive’ call with Turkey’s Erdogan about Russia-Ukraine war, Gaza

    May 5, 2025
  • Ex-Biden chief of staff giving ‘credible’ answers in House Oversight cover-up probe, lawmakers say

    July 24, 2025

Recent Posts

  • Canada’s Trudeau announces resignation following party pressure amid criticisms of Trump, budget handling

    January 6, 2025
  • American released by Taliban returns home to ‘champion’s welcome’

    March 21, 2025
  • ‘This is no drill’: China’s dominance over US shipbuilding sparks bipartisan effort

    March 13, 2025

Editor’s Pick

  • Failed VP candidate Tim Walz skewered after hinting at potential 2028 presidential run

    March 4, 2025
  • 5 mistakes that doomed Kamala Harris’ campaign against Trump

    November 8, 2024
  • Trump appoints Alice Marie Johnson ‘pardon czar’ during Black History Month event at White House

    February 21, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock