Walmart, the largest U.S. retailer known for its affordable prices, announced plans to increase prices due to the impact of President Trump’s tariffs on shoppers. During an earnings call, Walmart executives stated that price hikes would be unavoidable as the U.S. faces its highest import duties since the 1930s. Items such as vegetables, furniture, and car seats made in China are expected to see significant price increases. Walmart CFO John David Rainey noted that while the company aims to keep prices low, there is a limit to what they can absorb. Other companies like Procter & Gamble and Ford have also announced price increases related to tariffs. Mattel Inc., maker of Barbie and Hot Wheels, plans to boost prices to offset tariff costs, prompting a response from Trump. Despite some tariff pauses, production costs for items like strollers and spices have risen since Trump’s ‘Liberation Day.’ Economists predict steeper price increases for various products in Southern California as the full effects of the tariffs take hold.
— new from Los Angeles Times
