Walmart says it's 'not going to be completely immune' from Trump's tariffs
Walmart would likely see some impact from tariffs President Donald Trump is seeking to impose, especially if ones threatened against Canada and Mexico are implemented, the retailer said Thursday.
Walmart would likely see some impact from tariffs President Donald Trump is seeking to impose, especially if ones threatened against Canada and Mexico are implemented, the retailer said Thursday.
The big-box giant reported quarterly earnings that signaled slowing profit growth, causing its shares to drop more than 8%.
In an interview with CNBC following the release, Chief Financial Officer John David Rainey said that while some two-thirds of Walmart's products are sourced from the U.S., the company was “not going to be completely immune” from trade duties.
“We’ve lived in a tariff environment for the last seven or eight years, and we’ll do what we know how to do,” he said. “We’ll work with suppliers. We’ll lean into our private brand. We’ll shift supply where necessary to try to take advantage of lower costs that we can then pass on to consumers.”
Since Walmart is not sure if the tariffs will take effect next month, the company did not factor them into its guidance, Rainey said.
Rating: 5