Walmart CFO Says Donald Trump’s Tariff Proposal Could Raise Prices On ‘Some Items’

Walmart CFO Says Donald Trump’s Tariff Proposal Could Raise Prices On ‘Some Items’

President-elect Donald Trump’s tariff plan is stirring some concern among major retailers.

In a recent interview with CNBC, Walmart’s CFO John David Rainey admitted the proposal will likely cause a hike in prices, adding:

“We never want to raise prices…Our model is everyday low prices. But there probably will be cases where prices will go up for consumers.”

 

View this post on Instagram

 

A post shared by the Jasmine BRAND (@thejasminebrand)

Rainey claimed it’s too early to tell what items could see a price increase, however, should the tariffs be implemented.

Throughout campaign season, Trump reportedly stated that he would “impose a 10% to 20% tariff on all imports, including levies as high as 60% to 100% for goods from China,” according to CNBC.

Putting the numbers into perspective, Lowe’s CFO Brandon Sink claimed 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.

Do you have concerns with Donald Trump’s tariff plan?