Walmart just leveled with Americans: China won't be paying for Trump's tariffs, in all likelihood you will [View all]
Source: Fortune
Voters who returned Donald Trump to the Oval Office in the hope that living costs would return to the halcyon days before the pandemic may be in for a shock.
Arkansas-based Walmart, the world’s largest retailer that traditionally has catered to working and middle-class Americans, warned the President-elect’s plans to hike import duties across the board will be felt by everyday consumers.
“Tariffs are going to be inflationary, there’s no disputing that,” Walmart finance chief John David Rainey told Fox News on Thursday.
That’s not the message the Trump campaign took to the nation during the 2024 election race, however. During the campaign, the former president asked whether voters were better off than they were a little under five years ago, when the seeds of inflation were sown with the outbreak of the COVID virus.
The resounding answer was no, as two-thirds of the population were dissatisfied with the state of the economy. Coast to coast, Americans felt a deep-seated resentment at spiraling prices on everything from gasoline to groceries and restaurant visits.
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