Finance
Walmart should ‘eat the tariffs,’ Trump says, after retailer warns of looming price hikes
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.
Regions Financial Corp. has completed its acquisition of Montgomery-based investment banking firm The Frazer Lanier Company, expanding its municipal finance and corporate investment banking services.
The Birmingham-based financial company announced Thursday that the acquisition has officially closed. Founded in 1976, Frazer Lanier provides investment banking services specializing in municipal and corporate securities and has served corporations, cities, counties and local boards throughout its history.
According to Regions, the acquisition is intended to strengthen the bank’s capital markets capabilities while enhancing services for public sector and institutional clients across its multi-state footprint.
Frazer Lanier has built its business by serving as an underwriter or placement agent for tax-exempt and taxable bonds, helping public entities and organizations access financing.
“Two of our top priorities at Regions Bank are strategically expanding our services and investing in top-tier banking talent,” John Turner, chairman, president and CEO of Regions Financial Corp., said in a news release. “By welcoming experienced bankers from Frazer Lanier to the Regions family, we are connecting Regions’ clients with even greater capabilities while advancing our long-term strategy for growth.”
As part of the acquisition, Frazer Lanier will be integrated into Regions Bank’s Capital Markets division within the company’s Corporate Banking group.
Brian Willman, head of Corporate Banking for Regions, said the two organizations share a similar approach to serving clients.
“Frazer Lanier has built trust by staying close to clients and helping them navigate important decisions,” Willman said. “Together, we can expand that model by bringing more ideas, more capabilities and more connectivity to clients across our markets.”
Regions said the acquisition will expand its municipal finance and investment banking capabilities, strengthen its services for cities, counties and other public entities, and provide clients with broader access to financing and capital markets solutions.
Financial terms of the acquisition were not disclosed.
MOBILE, Ala. (WALA) – A Mobile County grand jury has indicted the former finance director for the city of Semmes on ethics and theft charges.
Heather Renee Davis, who also previously served as city clerk for the city of Satsuma, faces a 12-count indictment. Ten of the counts are ethics violations.
Allegations
Prosecutors allege Davis improperly used her public positions in Semmes and Satsuma for personal gain, including misappropriating public money and resources.
Two counts accuse her of first-degree theft by deception involving amounts over $2,500. One count is tied to the city of Semmes and one to the city of Satsuma.
Arrest and bond
Jail records show Davis was arrested and later released after posting a $60,000 bond.
Copyright 2026 WALA. All rights reserved.
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