<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>US President </span><a href="https://www.9news.com.au/donald-trump" rel="" target="" title="Donald Trump"><span>Donald Trump</span></a><span> on Saturday ripped into Walmart, saying on social media that the retail giant should eat the additional costs created by his </span><a href="https://www.9news.com.au/tariffs" rel="" target="" title="tariffs"><span>tariffs</span></a><span>.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>As Trump has jacked up import taxes, he has tried to assure a skeptical public that foreign producers would pay for those taxes and that retailers and automakers would absorb the additional expenses.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Most economic analyses are deeply skeptical of those claims and have warned that the trade penalties would worsen inflation. Walmart warned on Thursday that everything from bananas to children's car seats could increase in price.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/man-arrested-after-climbing-cruise-ships-moorings-at-circular-quay/35bd3e45-6bb7-472b-bb40-3054792e62e5" rel="" target="" title="Man arrested after climbing cruise ship's moorings at Circular Quay"><strong><span>Man arrested after climbing cruise ship's moorings at Circular Quay</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Trump, in his Truth Social post, lashed out at the retailer, which employs 1.6 million people in the US.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>He said the company, based in Bentonville, Arkansas, should sacrifice its profits for the sake of his economic agenda that he says will eventually lead to more domestic jobs in manufacturing.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>“Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain,” Trump posted.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/world/trump-warns-walmart-dont-raise-prices-due-to-my-tariffs-but-do-eat-the-costs-from-those-taxes/9b4c2e10-6e9b-4c0a-ab78-b59bc82794bc" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>“Walmart made BILLIONS OF DOLLARS last year, far more than expected. Between Walmart and China they should, as is said, “EAT THE TARIFFS,” and not charge valued customers ANYTHING. I’ll be watching, and so will your customers!!!”</span></div></div><div class="styles__Wrapper-sc-2o34ro-0 cmwkBV"><div class="styles__Column-sc-2o34ro-3 jJDKrX"><a href="/content/2025/04/09/08/16/donald-trump-tariffs-panic-on-wall-street-in-pictures-stock-exchange"><img alt="" sizes="(min-width: 1024px) 636px, (min-width: 768px) 396px, 100vw" src="https://imageresizer.static9.net.au/WUnaHpArkMjnIa_du10ehjvRpFU=/396x223/https%3A%2F%2Fprod.static9.net.au%2Ffs%2F0b3e528b-2d17-4776-8577-936747dee90a" srcset="https://imageresizer.static9.net.au/WUnaHpArkMjnIa_du10ehjvRpFU=/396x223/https%3A%2F%2Fprod.static9.net.au%2Ffs%2F0b3e528b-2d17-4776-8577-936747dee90a 396w, https://imageresizer.static9.net.au/1THpTRPq6O8a2i75a9FC8_BGrOs=/636x358/https%3A%2F%2Fprod.static9.net.au%2Ffs%2F0b3e528b-2d17-4776-8577-936747dee90a 636w"/></a></div><div class="styles__Column-sc-2o34ro-3 jJDKrX"><div class="styles__Headline-sc-2o34ro-4 hpbOlz">Panic on Wall Street as Trump announces new tariffs</div><div class="styles__Button-sc-2o34ro-1 eBjlmW"><a class="styles__ButtonLink-sc-2o34ro-2 hqpklJ" href="/content/2025/04/09/08/16/donald-trump-tariffs-panic-on-wall-street-in-pictures-stock-exchange">View Gallery</a></div></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The posting by the Republican president reflected the increasingly awkward series of choices that many major American companies face as a result of his tariffs, from deteriorating sales to the possibility of incurring Trump's wrath.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Trump has similarly warned domestic automakers to not raise their prices, even though outside analyses say his tariffs would raise production costs.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>So far, those tariffs have darkened the mood of an otherwise resilient US economy.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The preliminary reading of the University of Michigan survey of consumer sentiment on Friday slipped to its second lowest measure on record, with roughly 75 per cent of respondents “spontaneously” mentioning tariffs as they largely expected inflation to accelerate.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.nine.com.au/sport/afl/news-2025-adam-selwood-death-twin-brother-troy-joel-family-statement-20250517-p5m00n.html"><strong><span>Great's emotional TV tribute after second Selwood tragedy</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>In April, Walmart CEO Doug McMillon was among the retail executives who met with Trump at the White House to discuss tariffs.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>But the Trump administration went forward despite warnings and has attacked other companies such as Amazon and Apple that are struggling with the disruptions to their supply chains.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Walmart chief financial officer John David Rainey said he thinks US$350 ($545) car seats made in China will soon cost an additional $155, a 29 per cent price increase.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>“We’re wired to keep prices low, but there’s a limit to what we can bear, or any retailer for that matter,” he told </span><em><span>The Associated Press</span></em><span> on Thursday after the company reported strong first-quarter sales.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/world/donald-trump-tariffs-us-china-announce-90-day-pause/8ff92aa4-4fd3-464d-8761-eb4feb49cc2b" rel="" target="" title="US and China agree to drastically roll back tariffs for 90 days"><strong><span>US and China agree to drastically roll back tariffs for 90 days</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The administration recently ratcheted down its 145 per cent tariffs on China to 30 per cent for a 90-day period. Trump has placed tariffs as high as 25 per cent on Mexico and Canada due to illegal immigration and drug trafficking, harming the relationship with America's two largest trading partners.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>There is a universal baseline tariff of 10 per cent on most countries as Trump promises to reach trade deals in the coming weeks after having shocked the financial markets in early April by charging higher import taxes based on trade deficits with other countries.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Trump insists he intends to preserve the tariffs as a revenue source and that a framework agreement with the United Kingdom would largely keep the 10 per cent tariff rate in place.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Trump has also placed import taxes on autos, steel and aluminum and plans to do so on pharmaceutical drugs, among other products.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/melbourne-news-ute-crashes-through-storefront-before-shop-catches-alight/d667f1fc-318c-4722-84b0-6d1380786424" target="_blank" title="Ute crashes through storefront before shop catches alight"><strong><span>Ute crashes through storefront before shop catches alight</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The tariffs and Trump's own reversals on how much he should charge have generated uncertainty across the US economy, such that Federal Reserve Chair Jerome Powell has held the central bank's benchmark rates steady until there is more clarity.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Powell has warned that tariffs can both hurt growth and raise prices.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>On Saturday, Trump repeated his calls for Powell to cut the benchmark rates.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>That could cause inflation to accelerate, but the president has maintained that inflationary pressures have largely disappeared from the economy.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>“Too Late Powell, a man legendary for being Too Late, will probably blow it again - But who knows???” Trump posted on Truth Social.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><a href="https://www.9news.com.au/national/how-to-follow-9news-digital/29855bb1-ad3d-4c38-bc25-3cb52af1216f" target="_blank"><strong><em><span>DOWNLOAD THE 9NEWS APP</span></em></strong></a><strong><em><span>:</span></em></strong><span> </span><em><strong><span>Stay across all the latest in breaking news, sport, politics and the weather via our news app and get notifications sent straight to your smartphone. 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