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Trump Tariffs Set to Collide with Back-to-School Shopping

  • Walmart and Mattel announced plans in May 2025 to raise prices on some products due to higher tariffs on Chinese imports in the U.S.
  • The price increases follow President Trump's imposition of a 30% tariff on Chinese goods and ongoing uncertainty from evolving trade policies.
  • Walmart's CEO Doug McMillon and CFO John David Rainey stated that narrow profit margins limit absorbing tariff costs, making price hikes likely soon.
  • Economist Brendan Duke estimated the tariffs could increase annual costs by about $2,500 for an average American family, with hikes appearing in electronics and clothing first.
  • These developments suggest U.S. Consumers will face higher prices starting in late May and June, underscoring ongoing challenges from trade tensions and tariffs.
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KTNV broke the news in on Wednesday, May 21, 2025.
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