Nov 19, 2024 - News

Walmart may have to raise prices if Trump tariffs take effect, CFO says

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The Walmart CFO sits at a table — Walmart CFO John David Rainey. Photo: David Paul Morris/Bloomberg via Getty Images

Walmart might have to hike costs if some of President-elect Trump's tariffs take effect, the company's CFO told CNBC's Melissa Repko on Tuesday.

Why it matters: Consumers could lose between $46 billion and $78 billion in spending power each year if new tariffs on imports to the U.S. are implemented, according to a National Retail Federation study released earlier this month.

What he's saying: "We never want to raise prices," Walmart's CFO John David Rainey said. "Our model is everyday low prices. But there probably will be cases where prices will go up for consumers."

He told CNBC it's too early to say what products could cost more.

What to watch: Home improvement retailer Lowe's echoed Walmart's message, according to CNBC.

Its CFO Brandon Sink said tariffs "certainly would add product costs," but added, "timing and details remain uncertain at this point."

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Walmart may have to raise prices if Trump tariffs take effect, CFO says

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