Walmart’s CFO John David Rainey said the retailer would likely have to raise prices on some items if President-elect Donald Trump’s proposed tariffs take effect.
“We never want to raise prices,” he said in an interview with CNBC on Tuesday.
Beauty CEO Tarang Amin told CNBC in an interview earlier this month that the company could be forced to raise prices if the higher duties take effect.
The majority of goods Walmart sells are not at risk of tariffs.
The home improvement retailer addressed the potential levies as it reported earnings on Tuesday.
Persons:
John David Rainey, Donald Trump’s, ”, “, ” Rainey, Wall, Matthew Shay, Tarang Amin, Steve Madden, Rainey, We’ve, Lowe’s, it’s, Brandon Sink, — CNBC’s Gabrielle Fonrouge
Organizations:
CNBC, National Retail Federation, Walmart
Locations:
China, U.S