U.S. Treasury Secretary Says Walmart Will "Eat Some Tariffs" After Trump's Request | Trump Tariffs

US retail giant Walmart will "eat some tariffs" according to Donald Trump's request.

A Walmart spokesman said the company would not comment on the conversation between its executives and executive officials. But, a source familiar with the conversation said the phone call between Bessent and McMillon was arranged many days before Trump’s post—the company’s position has not changed.

Walmart said it started this week, starting with raising prices for consumers later this month because it could not absorb the president's tariffs on international trade, which has caused turmoil in international markets.

The statement sparked an angry response from Trump, who responded on Saturday to his truth-seeking social network, saying the company should "eat tariffs without having to charge anything to valuable customers."

According to Bessent, speaking with NBC's conference media on Sunday, Walmart is exactly what it is now.

"I was on the phone with Walmart CEO Doug McMillon yesterday. Walmart is actually in what you described, like in the 18, 19 and 20s, Walmart would eat some tariffs," Best said, after host Kristen Welker asked the U.S. president if he asked U.S. companies to be underprofitable.

"What you're describing is Walmart's earnings call. Another thing another company wants to do - they have to give the worst case so they don't get sued."

McMillon said in a Thursday's earnings call that despite the presidential administration's announcement of a pause in the trade war with China, his company (the U.S. consumer health is in good condition) is taking action to protect itself from Trump's tariffs.

"We will try to keep prices as low as possible, but given the magnitude of the tariffs, we cannot absorb all the pressures given the reality of narrow retail margins, even at the lower levels announced this week," he said.

Walmart's chief financial officer John Rainey told CNBC that the company has thousands of stores in the United States and has "a bond every day." But he said the tariffs “more than any retailer can absorb” – consumers will start seeing higher prices by the end of May and “definitely bigger in June.”

Trump announced an unprecedented tariff plan for many countries on April 2, which he called "Liberation Day."

He said the United States had long been “robbed, plundered, raped and plundered by nearby and distant states,” and he presented a list of states and territories that would receive tariffs, from numerous U.S. allies and long-term trading partners to barren trading partners on remote islands near Southern Islands occupied only by Penguin.

He insisted that the president's strategy would lead to negotiations and trade agreements with at least 150 countries, and that being ridiculed and condemned was flawed and infeasible. It created a lasting six-week chaos, higher prices, stock market crashes and slowing economic growth.

He has since tried to back down many policy surpluses, including this week's announcement that tariffs on China (Walmart's main supplier and other U.S. companies) will be reduced from 145% to 30% over the first 90 days.

The White House called it a "complete reset" in trade relations, and then announced Friday that it would not be negotiated with many countries, but would unilaterally impose new tariff rates.

"(Impossible) to meet the number of people who want to meet us," Trump said at a business leaders meeting in the United Arab Emirates during his visit to the Gulf country.

“We have 150 countries that want to reach an agreement, but you don’t see a lot of countries.”

Bessent told CNN's ITU state later on Sunday that the U.S. focused on "18 most important transaction relationships" and he expects trade talks to continue to run a series of regional deals with many countries.