Walmart will absorb some tariffs after Trump warning, Treasury Sec Bessent says

Treasury Secretary Scott Bessin said on Sunday after he spoke with the CEO of the company following the warning of President Donald Trump that “eating definitions.”

Bessent detailed his conversation with the CEO of Walmart Doug McMillon during his appearance on the “Federation’s case” in CNN, when he was asked about Trump’s social media after warning the company against raising its prices to consumers, as McMelon referred to the profit call last week.

“I talked to Doug McMailon, who has a very good relationship, just yesterday to understand what he said,” Bessin said, adding that McMelon’s comments came during a profit call where the Secretary said that companies should give the “most issue” due to the SEC requirements.

“Therefore, Wall Mart will absorb some definitions,” said Pesin. “Some may be transferred to consumers.”

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On Thursday, McMillon said that Walmart will do its best to maintain prices, but with the “size of” tariffs “, even at the reduced levels announced this week, we are not able to absorb all pressure due to the reality of narrow retail margins.”

The CEO of Walmart Doug McMllon said during the profit call last week that the company may have to raise some prices due to the definitions. (Ethan Miller / Getty Emachurs, File / Getty Imase)

McMillon made the statement as the retail dealer reported the results of the first quarter, which achieved Wall Street’s expectations.

Trump responded to the statement on Saturday with a center on the social truth platform.

“Wal -Mart should stop trying to blame the definition trips as a reason to raise prices throughout the series,” Trump wrote. “Wall Mart achieved billions of dollars last year, more than expected. Between Wall Mart and China, they should, as it is said,” eat definitions “, and not to charge the scheduled customers anything. I will watch, as well as your customers !!!”

Later on Saturday, Wall Mart responded to Trump, saying in a statement: “We have always worked to maintain our prices as low as possible, and we will not stop. We will keep at low prices as possible as long as we were able to give the truth of the small retail margins.”

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Pesin also said that his conversation with McMelon covered the prices of the most anxious Wall Marter.

“The other thing that Lee Doug mentioned, for consumers, for his buyers, the most important thing is gasoline prices,” said Pesin. “This administration has decreased gasoline prices.”

The Wall Mart store in Usnside, California, appears on May 15, 2025. (Reuters photos / Mike Blake / Reuters)

The average national price of regular fuel was $ 3.178 as of Sunday, compared to $ 3.592 a year ago, according to the American Automobile Society. Ordinary fuel reached the highest national price of $ 5.016 on June 14, 2022, according to the Biden Administration.

Pesin said that although he expected to “remain inflation” in a line, “he blamed former President Joe Biden for creating the current feelings of uncertainty among American consumers.

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“But I do not blame consumers to be volatile after what happened to them four years under Biden’s leadership,” he said. “We had the worst enlargement in 40 years.”

Brie Stimson Fox Business contributed to this report.