Senate minority leader, Chuck Schumer (D-N.Y.), is not holding back in his criticism of President Donald Trump over rising consumer prices, placing blame squarely on the latter’s tariff policies.
What Happened: On Monday, in a post on X, Schumer called out Trump for “trying to bully” Walmart Inc. (NYSE:WMT) for being transparent about price increases resulting from the tariffs.
See Also: JPMorgan CEO Jamie Dimon Warns ‘Huge Deficits,’ ‘Complacent Central Banks’ Could Lead To Stagflation
The Democratic leader believes Trump is targeting businesses to deflect attention from the consequences of his trade policies. “Trump can try to blame businesses,” he said, “but he [Trump] can't escape the economic realities of his own trade war.”
Schumer says “he [Trump] made this mess,” and it was Trump, and not Walmart, who is responsible for “sending prices up” in recent months.
Why It Matters: This comes just days after Trump posted on Truth Social, urging Walmart to “Eat The Tariffs,” instead of passing on the costs to its consumers
Others, such as economist Peter Schiff, have expressed similar views, calling out the lack of logic in Trump’s arguments. “If the goal of tariffs is to reduce our trade deficit, the only way that will happen is if Walmart and other importers raise their prices,” he said.
The CEOs of Walmart, Target Corp. (NYSE:TGT) and Home Depot Inc. (NYSE:HD) told Trump during a meeting at the Oval Office last month that “the shelves will be empty” if the tariffs continue to persist.
“The big box CEOs flat out told him [Trump] the prices aren't going up; they're steady right now, but they will go up,” one leading administration official said.
Price Action: Walmart shares were down 0.12% on Monday, trading at $98.12, and are down 0.11% in after-hours trading.
Walmart shares show a favorable price trend in the short, medium, and long-term, according to Benzinga’s Edge Stock Rankings. Take a look at some deeper metrics and figures here.
Photo Courtesy: Bumble Dee On Shutterstock.com
Read More:
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
