LEXINGTON, Ky. (LEX 18) — The impact of President Trump’s tariff orders are about to be felt at one of America’s more consumer-friendly grocery chains, Walmart, as the CEO told investors that store prices are about to rise.
"We will do our best to keep our prices as low as possible, but given the magnitude of the tariffs, even at the reduced levels announced this week, we aren't able to absorb all the pressure, given the reality of narrow retail margins," CEO of Walmart Doug McMillon said on Thursday morning.
While the national chain will work to limit the impact on its loyal customers, McMillon noted that the narrow retail margins due to the tariffs will still cause an impact.
Customers we spoke with soon after the announcement are ready for it.
“I knew when the tariffs were being talked about it was going to increase everybody's cost of living,” Walmart customer Janet Greene said.
Others said they will make the commitment to try to cut back whenever possible.
“Cut back on the stuff you don't need and cut back on the quantity of what you get,” said shopper, Dalton Parish.
“Actually, I've started gardening. I love green beans so I'm trying to grow my own,” customer Debra Denning said on Thursday morning.
But, not everyone is looking at this situation as a total loss if the President’s tactics can yield his much talked about desired result.
“Tariffs seem scary, but as an American, if we have to pay a little more to keep jobs here, I’m not too worried about it,” said Griffan Smart, a career factory worker.
Still, Griffan’s generosity and long-term vision aren’t necessarily shared by everyone.
“Your pay isn't going up, so how do they expect us to pay our bills, buy groceries and still be able to live a comfortable life,” Parish wondered.
It’s a balance most American’s have been working to strike from the moment they began collecting a paycheck and living on their own. Now, it might be a little harder to do, even when shopping at a place that’s known for its fair prices.
