NEW YORK, May 17 (Xinhua) — Walmart, the world’s largest retailer, said President Donald Trump’s tariffs are “too high” and it will raise prices on some items as Trump’s global trade war increases the company’s costs, Xinhua reported.
“We will do our best to keep our prices as low as possible. But given the magnitude of the tariffs, even at the reduced levels announced this week, we aren’t able to absorb all the pressure given the reality of narrow retail margins,” Walmart CEO Doug McMillon said on Thursday on an earnings call.
“Like many other US companies, however, it did not issue a profit outlook for the quarter because of the chaotic environment, with stated US tariff policies changing constantly.
“The company maintained its full-year guidance issued in February,” noted The Associated Press in its report about the development.
