(C) Common Dreams
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Trump tariffs: 'Do not retaliate and you will be rewarded,' White House says [1]
['Dan Mangan Kevin Breuninger Jeff Cox Christina Wilkie Erin Doherty Ruxandra Iordache', 'Dan Mangan', 'Kevin Breuninger', 'Jeff Cox', 'Christina Wilkie', 'Erin Doherty', 'Ruxandra Iordache']
Date: 2025-04-09
As tariffs are set to drive up prices for many goods, Walmart may be able to attract new customers and more frequent visits from shoppers, Chief Financial Officer John David Rainey said Wednesday.
At an investor event in Dallas, he said the retail giant sees an opportunity to gain market share.
"If you look back two years ago when we saw inflation, we invited a lot of new customers to Walmart with high prices," he said. "And what we saw over those two years is they stayed with us."
Walmart executives made the comments before Trump said he would temporarily lower tariffs on dozens of trading partners to 10%, and raise duties on Chinese imports to 125%.
Earlier in the day, the retail giant stuck by its full-year forecast yet it scrapped its first-quarter operating income guidance and did not provide an updated range for that metric. In a news release, the discounter said it wants to "maintain flexibility to invest in price as tariffs are implemented."
CEO Doug McMillon said the discounter is committed to keeping prices low.
"We like where our price gaps are. We want to keep them," he said.
He added, "we're not going to let them narrow."
— Melissa Repko
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[1] Url:
https://www.cnbc.com/2025/04/09/trump-tariffs-live-updates.html
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