US Treasury Secretary Scott Bessent said in an interview that he spoke with Walmart CEO Doug McMillon on Saturday to discuss recent signs that the world's largest retailer will raise prices due to an increase in import taxes. US President Donald Trump said on Saturday that Walmart should stop using tariffs as a reason for price increases and “bear the tariffs.” “In fact, as you described, Walmart will bear some of the tariffs, just like they did in 2018, 2019, and 2020,” Bezent said. “Overall, we are seeing a decline in service inflation, and we are seeing inflation falling for the first time in four years.”

US Treasury Secretary Scott Bessent said in an interview that he spoke with Walmart CEO Doug McMillon on Saturday to discuss recent signs that the world's largest retailer will raise prices due to an increase in import taxes. US President Donald Trump said on Saturday that Walmart should stop using tariffs as a reason for price increases and “bear the tariffs.” “In fact, as you described, Walmart will bear some of the tariffs, just like they did in 2018, 2019, and 2020,” Bezent said. “Overall, we are seeing a decline in service inflation, and we are seeing inflation falling for the first time in four years.”