Retailers issue 'warning' to Trump that higher prices are coming soon: report

Retailers are likely to raise prices "in the coming weeks" due to President Donald Trump's tariffs, according to a report in The New York Post.

Business editor and Fox correspondent Charles Gasparino wrote Friday, "The retail industry is alerting President Trump that they can’t 'eat' his tariffs forever – and price increases are likely to hit in the coming weeks."

"Whether this gets translated into higher official inflation numbers is anyone’s guess at this point. But for many items enjoyed by Americans who like cheap goods brought in from abroad – a majority of them from China – these things will soon be getting a lot less cheap."

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Trump famously told Walmart execs to "'EAT THE TARIFFS,' and not charge valued customers ANYTHING."

"I’ll be watching, and so will your customers!!!" he warned.

Gasparino's anonymous sources told him that "the retailers’ warnings to the president about how they can’t just eat tariffs indefinitely were well received in the sense that Trump didn’t chase them out of the Oval."

Gasparino speculated that "When the price increases begin to spread, that could set up an interesting catfight between the president and a huge chunk of the business community."

Read The New York Post article here.