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“Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain. 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!!!”
Trump has lost his mind on tariffs. There is no way you can impose a tax on imports ranging from 10% to 145% and not expect prices to go up. I shopped a couple of days ago in Wichita, and prices have gone up on a number of things. Coffee was the most notable, but there were other items as well. I see it on Amazon and when buying auto parts.
After imposing a tax on Walmart for imports, Trump has the gall to tell them to eat the tariffs. He's the cause of it. Eat your own tariffs. Then, just like the brain-dead Joe Biden during Bidenflation, he blames Walmart for profiteering and price gouging.
And just when he is ready to accept an unconstitutional and unconscionable $400 million, golden palace-in-the-sky bribe from terrorist-supporting Qatar, he tells us to cut back for Christmas. "Just buy fewer dolls." When do you plan to implement your own personal austerity plan, like the one you are forcing on the rest of us, Mr. President?
Discussion (106)
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Antidote to the OP fulminations:
"The former CEO of Walmart US called out current company executives and their directive to spike shelf prices due to the trade war.
Simon criticized the move, arguing that Walmart had a solid enough financial foundation to address the tariff situation without raising prices, he told CNBC.
“If you look down deep and dig into the details of their earnings release today, you know this quarter they grew their gross profit margin in the US business 25 basis points. So, they’re expanding their margin," the former Walmart executive said on Thursday after the company's first quarter earnings call.
"They also reported their general merchandise categories were flattish because they had mid-single digit price deflation.
"That sort of gives them room in my view to manage any tariff impact that they would have.”
Simon - now a member on the Darden Restaurants board and the chairman at Hanesbrands - has no doubt that consumers will be able to manage price increases, pointing to a steady job market and more affordable fuel prices in 2025.
However, the retail expert believes that such troubling commentary from business executives could be harming consumer confidence.
“All the doom and gloom we hear about price increases and tariffs like we heard from my friends at Walmart today - I think it scares them some,” he said."
Link: https://www.the-sun.com/money/14256644/ex-walmart-ceo-blasts-retailer-price-hike-announcement-tariffs/
I very much doubt that Mr. Simon has lost his mind.
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You didn't address the point of my "fulminations," namely that Trump is corruptly accepting a present from terrorist supporters while urging all of us to suck it up due to the economic pain he is inflicting on us.
Bill Simons has a net worth of $90m, a Navy pension, and a sweet directorship at Darden Restaurants; so the tariffs won't hurt him. That's why he can admonish us that we consumers "will be able to manage the price increases." Plus, he was forced to resign as CEO of Walmart US in 2014 due to poor performance, so he may have an axe to grind with Walmart.
Mr. Simons may not mind paying the Trump tariffs on coffee, but it hurts me.
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No corruption involved. The plane in question (plans for the acceptance of which were initiated a year or so ago, i.e. by the Biden administration) would be used by the current President as AF1 until his term ends. Then it would be used by the next President (even if he's a Democrat) until Boeing finally manages to deliver the one it's been working on (estimated delivery: around 2030, last I saw reported). At that point, and only at that point, the "gift" plane would be decommissioned and parked on the grounds of the Trump Presidential Library, wherever that may be. The price of tickets to take a tour of it is yet to be determined.
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And for coffee, the price has risen over the last year because of low production in coffee producing areas including Brazil and Viet Nam because of local weather conditions in both places. Seconded with greater demand from, believe it or not, China. I can certainly understand the Chinese starting to prefer coffee to tea since I do myself. Have the tariff's increased the price of coffee? Yes but that increase is minor compared to those other developments.
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But of course those with their own agendas will claim it's all an only due to tariffs.
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