By Molly Claire Goddard
1:53am PDT, May 20, 2025
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Scott Bessent is finally owning the fact that
Donald Trump's
tariffs may cause financial strain to the American people.
During a Sunday, May 18, appearance on CNN, the president's treasury secretary admitted customers in the United States would be the ones to carry the burden of the newly imposed taxes on goods sold at Walmart.
Keep reading to learn what Bessent had to say…
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Scott Bessent told CNN he'd spoken with Walmart's CEO after Donald Trump made it clear the company should not be jacking up the prices of their products due to new
tariffs. Despite admitting the duties were not great for buyers, he blamed their fright on former president
Joe Biden.
"Walmart will be absorbing some of the tariffs, some may get passed on to consumers," he said. "Overall, I would expect inflation to remain in line. But I don't blame consumers for being skittish after what happened to them for years under Biden."
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On Saturday, May 17, Donald Trump took to Truth Social to allege that Walmart is using the
tariffs as a scapegoat for greed.
"Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain," he wrote. "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!!!"
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Despite Donald Trump's claims, higher-ups at Walmart are making it clear their prices only increased after the Republican leader's tariffs went into effect in April.
"We're wired to keep prices low, but there's a limit to what we can bear, or any retailer for that matter," Walmart CFO John David Rainey said in a Thursday, May 15, statement.
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Despite some people's lack of faith in Donald Trump's economic plan for America, he's continuously claimed the financial hardship will only be temporary. The right-winger has also put the blame for the country's monetary issues on former President Joe Biden's leadership.
"They are already in effect and a beautiful thing to behold. The Surplus with these Countries has grown during the 'Presidency' of Sleepy Joe Biden," Trump boasted on Truth Social after the
duties went into effect. "We are going to reverse it and reverse it QUICKLY. Some day people will realize that Tariffs, for the United States of America, are a very beautiful thing!"
