Walmart might have to raise prices on some items if President-elect Donald Trump’s proposed tariffs take effect, CFO John David Rainey said, CNBC reported Tuesday.
“We never want to raise prices,” Rainey told the news outlet. “Our model is everyday low prices. But there probably will be cases where prices will go up for consumers.”
During a quarterly earnings call Tuesday, Rainey said Walmart topped its third-quarter earnings and exceeded revenue expectations. But retailers and investors worldwide are concerned about Trump’s continuous talk of using tariffs to even trade discrepancies, coupled with his rhetoric toward China.
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