Walmart's Chief Financial Officer John David Rainey stated that even though the U.S. government recently announced a temporary reduction of tariffs on Chinese goods to 30% within 90 days, 'the tariffs are still too high.' He said that Walmart's business model relies on 'everyday low prices,' but the recent increase in tariffs is something no retailer can absorb and no supplier can bear. He is concerned that consumers are likely to see price increases by the end of this month, and it will definitely be more pronounced by June.
Image source from the internet