Walmart (WMT) joins rocker Bruce Springsteen and pop music icon Taylor Swift as getting a verbal lashing from president Trump on social media this week.

The president ripped Walmart execs on Saturday for signaling tariff-driven price hikes that are poised to begin later this month.

“Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain. Walmart made BILLIONS OF DOLLARS last year, far more than expected. Between Walmart and China they should, as is said, ‘EAT THE TARIFFS,’ and not charge valued customers ANYTHING. I’ll be watching, and so will your customers!!!,” Trump said in a post on Truth Social.

“We have always worked to keep our prices as low as possible and we won’t stop. We’ll keep prices as low as we can for as long as we can given the reality of small retail margins,” a Walmart spokesperson told Yahoo Finance.

Walmart CEO Doug McMillon was among the CEOs who met with the president in late April to discuss tariff implications. A person familiar with the discussions told Yahoo Finance Walmart made a case to remove tariffs on China altogether as even lower tariffs would have major implications on prices for general merchandise items such as furniture and toys.

The Trump administration and China agreed to dial back tariffs for 90 days last week. The US tariff rate on China now sits at 30%, down from 145% at the height of the trade tussle between the economic superpowers.

“Low prices is what we stand for, and we’re going to keep prices as low as we can as long as we can,” Walmart CFO John David Rainey said on Yahoo Finance’s Catalysts (video above) this week following the company’s first quarter earnings. “But when you look at the magnitude of some of the cost increases on certain categories of items that are imported, it’s more than what retailers can bear. It’s more than what suppliers can bear.”

“And so we’ll work hard to try to keep prices low. But it’s unavoidable that you’re going to see some prices go up on certain items.”

Rainey said increases will be noticeable later this month.

Rainey added, “Well, if you’ve got a 30% tariff on something, you’re likely going to see double digits [in price increases].”

The most impacted areas for Walmart will include baby strollers, furniture, and toys. Price hikes in these departments could major impacts on suppliers such as Newell Brands (NWL), reports Yahoo Finance’s Brooke DiPalma.

Walmart’s earnings day was mixed as shoppers spent somewhat cautiously given the greater economic uncertainty.

Release Date: May 15, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

• Galiano Gold Inc (GAU) maintains a robust financial position with $106 million in cash and zero debt.

• The company achieved significant exploration success at Abore, identifying a promising high-grade zone beneath the main pit.

• A 75% increase in gold production is projected by 2026, indicating strong future growth potential.

• The secondary crusher project is on track for completion in Q3 2025, which is expected to enhance mill throughput.

• Operating costs are being well managed, with unit costs for mining at Abore and Assassi in line with expectations.

• The company experienced two lost time injuries (LTIs) during the quarter, reflecting a need for improved safety measures.

• An unscheduled two-week mill shutdown due to repairs reduced production by approximately 5,000 ounces.

• Net earnings were negatively affected by fair value adjustments to the hedge book, resulting in a net loss of $29 million.

• The impact of high gold prices and increased government levies could raise all-in sustaining costs (ASIC) by up to $55 per ounce.

• Production figures for Q1 2025 were lower than expected, moving towards the lower end of guidance for the year.

Q: Can you walk us through your intermediate and longer-term expectations for drilling, especially in the south pit? A: Unidentified_5 (Exploration VP): We focused on the south pit to confirm the robustness of the high-grade zone, which exceeded our expectations. The strike length expanded from 90m to 180m. We discovered a new high-grade zone below the reserve pit, which was unexpected. We plan to test deeper targets along the ore body and explore both open pit and underground mining scenarios.

Q: What happened with the cost of the secondary crusher equipment versus expectations, and what downtime should we expect for the install? A: Unidentified_4 (CFO): The secondary crusher project remains on budget, with most equipment costs paid in installments. We expect minimal downtime for installation, as most pre-works can be done while the plant is running. The shutdown for tie-in will be brief, and we plan to conduct other maintenance simultaneously.

Q: Should we model any significant impact from the crusher installation shutdown? A: Unidentified_3 (COO): We don’t expect a significant impact from the shutdown. We have contingencies in place, and the production forecasts already account for this downtime.