Bessent: Walmart Is, in Fact, Going to Eat Some of the Tariffs

RUSH TRANSCRIPT WELKER Fair ░░░░░░░░ but under President Trump ░░░░░░░░ first administration he had ░░░░░░░░ 8 trillion added 1 ░░░░░░░░ so there s plenty ░░░░░░░░ blame to go around ░░░░░░░░ No let s review ░░░░░░░░ were in the rescue ░░░░░░░░ of Covid The Biden ░░░░░░░░ was in the recovery ░░░░░░░░ and kristen it would ░░░░░░░░ been if not for ░░░░░░░░ mansion and cinema who ░░░░░░░░ no longer in the ░░░░░░░░ caucus it would have ░░░░░░░░ four to 5 trillion ░░░░░░░░ WELKER It did include ░░░░░░░░ tax cuts as well ░░░░░░░░ let me ask about ░░░░░░░░ they say they will ░░░░░░░░ raising prices on its ░░░░░░░░ Mr Secretary as early ░░░░░░░░ this month due to ░░░░░░░░ tariffs Now President Trump ░░░░░░░░ with a very stern ░░░░░░░░ on social media saying ░░░░░░░░ should quote eat the ░░░░░░░░ adding the company made ░░░░░░░░ more than expected last ░░░░░░░░ Is the president asking ░░░░░░░░ companies to be less ░░░░░░░░ BESSENT I was on ░░░░░░░░ phone with the CEO ░░░░░░░░ Walmart yesterday and Walmart ░░░░░░░░ in fact as you ░░░░░░░░ it eat some of ░░░░░░░░ tariffs just as they ░░░░░░░░ in 18 19 and ░░░░░░░░ The other thing though ░░░░░░░░ we are seeing that ░░░░░░░░ their consumer the singular ░░░░░░░░ important thing is the ░░░░░░░░ price Gasoline prices have ░░░░░░░░ under President Trump So ░░░░░░░░ are seeing that The ░░░░░░░░ thing that will happen ░░░░░░░░ is a direct tax ░░░░░░░░ for consumers then the ░░░░░░░░ costs are also a ░░░░░░░░ input so let s ░░░░░░░░ what happens What you ░░░░░░░░ describing was Walmart s ░░░░░░░░ call The other thing ░░░░░░░░ companies have to do ░░░░░░░░ have to give the ░░░░░░░░ case scenario so that ░░░░░░░░ are not sued so ░░░░░░░░ know I think overall ░░░░░░░░ are seeing a decline ░░░░░░░░ services and we saw ░░░░░░░░ come down for the ░░░░░░░░ time in four years.”