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Trump warns Walmart: Don’t raise prices due to my tariffs but do eat the costs from those taxes (apnews.com)

submitted 2 months ago by cm0002@lemmy.world to c/usa@midwest.social

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WASHINGTON (AP) — President Donald Trump on Saturday ripped into Walmart, saying on social media that the retail giant should eat the additional costs created by his tariffs.

As Trump has jacked up import taxes, he has tried to assure a skeptical public that foreign producers would pay for those taxes and that retailers and automakers would absorb the additional expenses. Most economic analyses are deeply skeptical of those claims and have warned that the trade penalties would worsen inflation. Walmart warned on Thursday that everything from bananas to children’s car seats could increase in price.

Trump, in his Truth Social post, lashed out at the retailer, which employs 1.6 million people in the United States. He said the company, based in Bentonville, Arkansas, should sacrifice its profits for the sake of his economic agenda that he says will eventually lead to more domestic jobs in manufacturing.

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[–] DemBoSain@midwest.social 27 points 2 months ago (2 children)

Don't think for a moment this is because Trump doesn't understand how tariffs work. This is a threat to the Walton's that they haven't yet given him enough money. Make a "donation" or two, and Walmart will suddenly be exempt from tariffs.

[–] Kecessa@sh.itjust.works 14 points 2 months ago* (last edited 2 months ago) (1 children)

From people in the know it truly seems like he doesn't actually understand them

He doesn’t understand tariffs. He doesn’t understand how they work. He thinks we impose big tariffs on Canada. Canadians will pay for it.

He does not understand, although I’ve heard it explained to him in simple words, that the American importer pays the tariff and then tries his best to pass it on to American consumers.

https://www.ctvnews.ca/edmonton/article/he-doesnt-understand-tariffs-fierce-trump-critic-responds-to-economic-force-comments/

[–] Viking_Hippie@lemmy.dbzer0.com 14 points 2 months ago

He definitely doesn't.

He might ALSO be trying to shake down the Waltons for more bribes, but its been clear for almost a decade that he has no idea how tariffs work and doesn't care to find out since he doesn't have to.

[–] redsand@lemmy.dbzer0.com 6 points 2 months ago

"Donald Trump was the dumbest goddamn student I ever had." -William T. Kelley

Professor of business and ECONOMICS

This whole thing might be Donny trying to prove he knows better.