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

RUSH EXCERPT:
BESSENT: "I was on the phone with the CEO of Walmart yesterday, and Walmart is, in fact, as you describe it, eat some of the tariffs, just as they did in 18, 19 and 20. The other thing though, that we are seeing, that with their consumer, the singular most important thing is the gasoline price. Gasoline prices have collapsed under President Trump. So we are seeing that. The other thing that will happen, that is a direct tax cut for consumers, then the transportation costs are also a big input, so let’s see what happens. What you are describing was Walmart’s earnings call. The other thing the companies have to do, they have to give the worst-case scenario, so that they are not sued, so, you know, I think overall, we are seeing a decline in services and we saw inflation come down for the first time in four years."