(AURN News) — President Donald Trump is pushing back against Walmart after the retail giant said updated tariffs would raise prices for American consumers.

In a post Saturday on Truth Social, Trump wrote: “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!!!”

The statement follows comments from Walmart’s Chief Financial Officer John David Rainey, who told CNBC in an interview last week that suppliers cannot absorb the cost of the 30% tariffs recently announced by the Trump administration. “I’m concerned that consumer is going to start seeing higher prices,” Rainey said, warning of noticeable increases by the end of May and more in June.

According to economists and trade experts, tariffs are not paid by foreign exporters directly. Instead, the cost is typically borne by U.S. importers — such as retailers — and often passed on to American consumers in the form of higher prices. That’s why many policy analysts describe tariffs as a “tax on the American people.”

The updated 30% tariffs are scheduled to remain in effect for 90 days.

Trump has continued to defend his tariff strategy, claiming it protects American manufacturing and improves negotiating leverage with China. Yet in the end, it is Americans who are now footing the bill.

Learn more about your ad choices. Visit megaphone.fm/adchoices