Who’s Paying Trump’s Tariffs? Foreign Producers, Walmart, Or You?

By Mish Shedlock of MishTalk
Saturday, July 19, 2025 4:00 PM EDT

The answer is you, of course.
 


Walmart Pricing

CNBC reports Here’s where Walmart prices are changing — and staying the same — as Trump’s tariffs hit

The nation’s largest retailer warned in May that it would have to raise prices for its shoppers as President Donald Trump’s new duties drive up the cost of many imported goods. About two months later, some household items on Walmart’s shelves have higher prices, according to a CNBC analysis.

CNBC tracked prices of about 50 products across merchandise categories including apparel, electronics, toys and groceries over seven weeks at Walmart’s Secaucus, New Jersey, location. About a dozen of the items CNBC followed increased in price during that time, including a frying pan, a pair of jeans and a car seat, according to the analysis. Many of those items are manufactured in countries that face significant tariff rates.

While nationwide inflation data had seen a muted effect from tariffs in recent months, that showed some signs of changing in June. Though the consumer price index increased by 0.3% for the month and 2.7% year over year, the prices of tariff-sensitive segments like apparel and household furnishings rose at higher rates of 0.4% and 1%, respectively, from May.

“We’re wired for everyday low prices, but the magnitude of these increases is more than any retailer can absorb,” Chief Financial Officer John David Rainey said in an interview with CNBC. The discounter’s comment sparked criticism from the White House, with Trump telling the company in a social media post to “EAT THE TARIFFS.”

The price of a 12-piece set of pots and pans from Beautiful, a private-label kitchenware brand that’s exclusive to Walmart and co-founded by Drew Barrymore, rose from $99 to $149. A 12-inch frying pan from Beautiful climbed from $24.97 to $31.97.

In addition, the price of a Graco convertible stroller and car seat increased in price from $199.99 (then noted as a Walmart rollback, or limited-time discount from the $249 original price) to $299.

Some items’ packaging offered clues that tariffs could play a role in the hikes. The Beautiful pots and pans and Graco car seat are all made in China, according to labels on their packaging. Trump has put new 30% tariffs on goods imported from the country this year.

Levi’s CFO, Harmit Singh, told CNBC in an interview that most of Levi’s goods come from countries like Pakistan, Bangladesh and Indonesia. Goods from all of those countries currently face 10% tariffs, and Trump has proposed higher rates for some of those nations as of Aug. 1.

Tags of the signature jeans sold by Walmart, which came in multiple styles and washes, said they were made in Pakistan, Bangladesh, Tanzania and Lesotho.

Here’s how much prices rose in some categories as of the week ended May 31, relative to the week ended March 8, according to Circana data:

  • Juvenile products, cribs and furniture: +23 to 27%
  • Polo or golf shirts: +21%
  • Plush toys: +19%
  • Casual dinnerware: +23%
  • Electric toothbrushes: +12%
  • Televisions: +12%

Good News on Barbies

However, there were price decreases at Walmart, too: Mattel-owned Barbie Swim dolls dropped in price from $7.97 to to $5.97. The Barbies are made in Indonesia, according to their packaging. Mattel did not respond to a request about the reasons behind the price drop.

Dolls, including Barbies, are one of the items that have come up in tariff policy debates after Mattel said it may have to raise prices. Trump said that American children “could be very happy” with fewer dolls under his trade proposals.

Increasingly Clear Answer

There are exceptions of course. One of them is Toyota. Bur exceptions are not the rule.

Even Truflation Sees It

Truflation Points

  • Tariffs haven’t hit full force yet, so we’re not out of the clear — prices can still react, and cracks in the economy are growing.
  • Goods inflation accelerating — frontloaded imports delaying full tariff impact.
  • Tariffs from 20–40% hit in August — inflation risks skew heavily upward.

Kathy Jones

Walmart Raises Prices

More on Walmart

Our Libertarian Newfound BLS Believer Disagrees

Tariff inflation is “nonexistent” says Peter St Onge, Ph.D.

Here’s a Better Assessment

“This dude is going to run the economy into the ground then blame Jerome Powell.”

You can 100% book that.

Pertinent Flashbacks

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July 16, 2025: Within the Benign PPI Report Is a Stew of Tariff-Related Inflation

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Flat Broke • 1 month ago • Member's comment
Customers are... I work for #Walmart. We keep raising prices weekly on a lot of merchandise. Not great for $WMT stock price.