Walmart is preparing to raise prices the fastest this month as its own costs increase due to President Donald Trump's new tariffs on imports.

The world's largest retailer plan is due to the White House announcements in recent weeks that most goods from around the world face a new import tax of at least 10%, and Chinese products face a tax of at least 30%.

CEO Doug McMillon said in reporting the company's results to investors that he is grateful that the Trump administration has now suspended its more aggressive tax program.

But he said his company still has the potential to raise prices to pay for new costs.

"We will try to keep prices as low as possible, but given the magnitude of the tariffs, we can't absorb all the pressure even at the level of the reduction announced this week," he said.

The company said the country's manufactured, assembled or grown Walmart sold in the U.S.

But China is the main supplier to key categories such as toys and electronics.

Executives also warn that tariffs in countries such as Costa Rica, Colombia and Peru are putting price pressure on staples such as bananas, avocados, coffee and roses.

In an interview with U.S. Business Channel on Thursday, Chief Financial Officer John David Rainey said shoppers can definitely see the price increase in stores this month and June.

In Canada, retaliation against Trump’s measures, tariffs on U.S. goods, owners of major retailer Loblaw also warned that Canadians are ready to see “large tariff-related growth in the coming weeks” as the retailer purchased the retailer before its new duties.

"While tariffs may be improving between the United States and other countries, this has not been the case in Canada," Loblaw CEO Per Bank wrote on social media.

As Trump’s trade war update focuses on how consumer spending—the main driver of the U.S. and Canadian economies—what this might mean for broader economic growth in the face of rising prices.

At Walmart, executives say they focus on keeping food from rising prices and in a strong position that can quickly adjust what they are buying if shoppers start using them at higher prices.

The company said it was unable to provide investors with guidance on their profit expectations for the next three months due to the “dynamic nature” of the situation.

But throughout the year, executives said they are still working to achieve their initial goals, including plans to grow profits faster than sales - a sign that they hope to be able to pass on higher costs to consumers without a major blow.

"We can't see anything changing the way we think about the business," the company's executives told analysts. "We think we can navigate."

Currently, the sales appear to be in the process of holding. Buying fares rose in March and April after slow February (executives blamed bad weather).

Total revenue from February to April rose 2.5% year-on-year to $165.6 billion, with sales at U.S. Walmart stores up at least 4.5%.

Profit was $4.4 billion, down 12% year-on-year.