US President Donald Trump said on Saturday that Wall Mart needs to stop “trying to blame the fees” after the retail giant announced that his products would be more expensive.
Walmart CEO said that The price increase was the result of Trump’s tariff “very high”Especially when it comes to Chinese products.
“We will do our best to maintain our prices as low as possible. But given the size of definitions, even at the lower levels announced this week, we cannot accommodate all pressure, given the reality of the narrow margins of retail,” said Douglas McMelon, CEO of Walmart, in Khamis (15), in an invitation to the results.
Trump answered on Saturday (17), and published on the social truth that “between Wall Mart and China, they should, as they say,” eat customs tariffs “, not charging anything valuable customers. I will watch, just like your customers!”
Trump’s comments indicate the Minister of Commerce, Howard Lootnick, who argued that “companies and countries deal with customs tariffs” on Sunday (11) on the “Central Cal” program. Former treasure minister, Larry Samarz, described these theories as “ridiculous”.
Economists told CNN that the customs tariff will overwhelm two low and medium Americans, which was historically the Wal -Mart customer base. Consumers usually resort to a retail giant for basic purchases such as food.
“It is possible that the changes will be effective until the end of May, and prices will increase” much more “in June,” John David Raye, President of Wall Mart, said to John David Riny.
Walmart, which includes more than 4,600 stores in the United States, hosts goods from Canada, China, India, Mexico and Vietnam, among other countries. These countries are subject to rates at least 10 %, steel, aluminum, cars and car parts are subject to 25 % rates.
“All prices create cost pressure for us, but the largest prices in China have the greatest impact,” McMelon said.
Other countries are negotiating with Americans at a 90 -day break in mutual definitions. Lootnick told CNN that the basic prices will not decrease to less than 10 % during negotiations.
Trump’s commercial war has sank the feeling of consumer in recent months. The University of Michigan stated that the consumer feeling decreased by 2.7 % between April and May – a record number, partly due to the fact that the Americans are afraid of recession.