Walmart says it will soon raise prices due to tariffs.
During the retail giant’s earnings call Thursday, CEO Doug McMillion said, “Even at the reduced levels announced this week, we aren’t able to absorb all the pressure given the reality of narrow retail margins.”
McMillion said Walmart will do its best to keep prices as low as possible.
He added the tariffs are raising costs for electronics and toys from China as well as some food due to tariffs on Colombia, Costa Rica and Peru.
Customers will start to see the higher prices take effect later this month.
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