Walmart May Pass Tariff Costs to Consumers
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Treasury Secretary Scott Bessent acknowledged that Walmart may pass some tariff costs to consumers, despite President Trump's warning against price increases. Bessent spoke with Walmart CEO Doug McMillon, emphasizing the decline in gas prices as a counterbalance. While Walmart absorbs some tariffs, Bessent expects inflation to remain manageable, attributing consumer skittishness to previous high inflation under the Biden administration. Bessent downplayed concerns about a Moody's downgrade of US debt and maintained that economic growth would outpace debt accumulation. However, independent analyses are skeptical of the administration's growth projections. Tariff negotiations with various countries are ongoing, creating uncertainty for businesses.
Treasury Secretary Scott Bessent acknowledged that Walmart may pass some tariff costs to consumers, despite President Trump's warning against price increases. Bessent spoke with Walmart CEO Doug McMillon, emphasizing the decline in gas prices as a counterbalance. While Walmart absorbs some tariffs, Bessent expects inflation to remain manageable, attributing consumer skittishness to previous high inflation under the Biden administration. Bessent downplayed concerns about a Moody's downgrade of US debt and maintained that economic growth would outpace debt accumulation. However, independent analyses are skeptical of the administration's growth projections. Tariff negotiations with various countries are ongoing, creating uncertainty for businesses.
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