Treasury Secretary Scott Bessent confirmed that Walmart could increase prices due to President Trump's tariffs while conversing with Walmart CEO Doug McMillon. Although Trump urged Walmart not to pass on costs, Bessent noted that some costs might be unavoidable. Biden's administration faced inflation criticism, and Bessent addressed concerns regarding economic outlooks, appreciating Trump's negotiation tactics despite worries over rising prices. Gasoline price trends could affect customer perception, but he projected steady inflation based on Walmart's earnings call context.
Bessent acknowledged the possibility of Walmart passing on tariffs to shoppers, highlighting that while Walmart may absorb some costs, price increases for consumers might be unavoidable.
Bessent criticized inflation fears and praised the strategy of leveraging uncertainty in negotiations, maintaining that overall inflation trends should remain stable despite tariff concerns.
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