One show on President Donald Trump's favorite cable news network is now suggesting one of the administration's signature policies is hitting Americans in the pocket.
During a Thursday afternoon segment on Fox Business' "Claman Countdown," guest host Cheryl Casone acknowledged that the biggest "blue chip" stocks were taking a beating, and honed in on retail giant Walmart as a prime example. Casone pointed out that Walmart's stock had dipped by nearly five percent since the markets opened following a new quarterly earnings report showing that the retailer missed its revenue targets.
"The [earnings-per-share] miss was a big story and a surprise. This rarely happens with Walmart," Casone said. "They did say that costs from tariff-impacted areas are continuing to climb, and to offset those expenses Walmart said that it would continue to raise prices on a case-by-case basis."
Casone's reporting echoes Walmart's warning after Trump was elected last November that should new tariffs on imported goods be imposed, it would likely lead to consumers paying higher prices for goods. The company also predicted that should the cost of importing become too high, it could eventually lead to empty shelves for its customers.
Trump has previously set his sights on the retail giant amid blowback over his tariffs. In a post to his Truth Social account earlier this year, the president warned Walmart that it should "eat" the higher costs of his new import duties as opposed to passing the cost onto consumers.
"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!!!" Trump wrote in May.
Watch Casone's segment below, or by clicking this link.
Fox News reports on tariffs raising prices pic.twitter.com/KwkTjzXrYl
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