President Donald Trump harshly criticized Walmart for announcing that it will raise its prices in the coming weeks due to the impact on its operations of the tariff policy implemented by the current Federal Administration.
On Thursday of this week, a report revealed that Walmart’s profits declined during the first quarter of the year due to the increase in the price of its imported goods as a result of the tariffs announced by Trump.
Therefore, in order to improve its sales and achieve a second-quarter increase from 3.5 percent to 4.5 percent, the world’s largest retailer will raise the prices of its products to the consumer market.
In a statement, Doug McMillon, CEO of the multinational, stated that it is difficult for them to withstand the impact on the prices of their imported goods.
