US Tariff Impact: Prices Surge At Walmart And Target, Employees Say—Some Jumps Top 38%
The tariffs imposed by President Donald Trump are reportedly leading to significant price increases at Walmart Inc. (NYSE:WMT) and Target Corporation (NYSE:TGT) stores across the U.S.
What Happened: The Walmart employees have been sharing images on Reddit that depict a sharp rise in prices, with some items seeing a surge of up to 45%. Similar price hikes have been noted at Target as well.
For example, a Jurassic World T. Rex toy at Walmart saw its price increase from $39.92 in late April to $55 in late May, a nearly 38% increase. The price of a Baby Born doll shot up from $34.97 in March to $49.97 in May, an approximate rise of 43%.
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In addition, a left-handed fishing reel's price jumped from $57.37 in April to $83.26 in May, a 45% increase. AisleGopher, a third-party website that monitors Walmart prices, confirmed these price hikes.
Last Thursday, Target also increased the price of the Baby Born doll to match Walmart's increased price. However, Target CEO Brian Cornell stated that price increases would be a 'very last resort'.
As per the report by Insider, in reaction to the tariff-induced price hikes, Walmart CFO John David Rainey warned that prices would continue to rise on some items in the coming weeks and months. President Trump responded by suggesting that Walmart should 'eat the tariffs.'
Why It Matters: The price hikes at Walmart and Target are a direct result of the tariffs imposed by the Trump administration. These tariffs, aimed at protecting domestic industries, are causing a ripple effect on the retail sector, leading to increased costs for consumers.
The situation underscores the complex interplay between trade policies and consumer prices, with retailers caught in the middle.
As the tariff war continues, consumers and retailers alike will be closely watching the impact on prices and overall market dynamics.
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This article US Tariff Impact: Prices Surge At Walmart And Target, Employees Say—Some Jumps Top 38% originally appeared on Benzinga.com
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