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Walmart says higher prices from tariffs coming as soon as this month

Thursday, 15 May 2025 23:09

Walmart says U.S. tariffs on imports from China and other countries will force the retail giant to begin raising some prices as soon as this month.

The company's CEO Doug McMillon said Thursday many items on the stores' shelves are costing more for the company, and will start costing more for shoppers too. Walmart's finance chief said higher prices were likely to come as soon as this month and into the summer.

Speaking to investors after releasing quarterly earnings, McMillon said Walmart will work to protect food prices as much as possible.

"We will do our best to keep our prices as low as possible," he said. "But given the magnitude of the tariffs, even at the reduced levels announced this week, we aren't able to absorb all the pressure given the reality of narrow retail margins in retail."

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Walgreens closing dozens of stores across 17 states: Here’s where

Tuesday, 13 May 2025 22:08

Walgreens closings Dozens of Walgreens locations are preparing to close in the coming weeks and months after the pharmacy giant announced plans to shutter about 1,200 stores to turn around its struggling U.S. business.

In October, Walgreens said about 500 store closures would happen during the fiscal year, but didn’t explain when the remainder would take place.

As of Tuesday, however, some of its more than 8,000 stores have been marked for impending closure online.

“This location will permanently close on May 22. We’re sorry for any inconvenience this may cause,” a banner on the location page for the Walgreens in East Haven, Connecticut, reads, offering customers information about transferring their prescriptions to another Walgreens.

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‘No one’s buying anything now’: how tariffs are striking a blow to historic Chinatowns

Saturday, 10 May 2025 23:22

On a balmy afternoon last month, Amy Tran unboxed a delivery at Yue Wa Market, a small grocery and herbal medicine shop in Los Angeles’s Chinatown that she opened 17 years ago.

The package contained two dozen units of Shou Wu Chih, a Chinese herbal concoction known to rebuild kidney function and promote hair health. The shipment arrived two weeks after the US implemented new tariffs on Chinese imports, so her distributor charged her $115, a $35 markup from her previous order.

Tran said she had no choice but to increase the retail price from $6 to $7. It’s a steep up-charge for her customers, who are primarily Chinese seniors living off food stamps, some barely able to afford to buy a piece of fresh fruit or vegetable.

Warren Buffett Announces He'll Retire From Berkshire Hathaway, Shocks Shareholders

Saturday, 03 May 2025 22:12

Warren Buffett resigns Revered investor Warren Buffett shocked an arena full of his shareholders Saturday by announcing that he wants to retire at the end of the year.

Buffett said he will recommend to Berkshire Hathaway’s board Sunday that Greg Abel should become CEO at the end of the year.

“I think the time has arrived where Greg should become the chief executive officer of the company at year end,” Buffett said.

Abel has been Buffett’s designated successor for years, and he already manages all of Berkshire’s noninsurance businesses. But it was always assumed he wouldn’t take over until after Buffett’s death. Previously, the 94-year-old Buffett has always said he has no plans to retire.

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Trump softens tariff tone amid empty shelves warning, market slump

Wednesday, 23 April 2025 22:34

chain store ceo's meet with Trump Executives from three of America’s biggest retail chains warned President Donald Trump that things could get ugly if his aggressive economic agenda proceeds as planned, according to a new report from Axios.

During a private meeting in the Oval Office on Monday, the CEOs of Walmart, Target and Home Depot reportedly told the president that supply chains could freeze and prompt stores’ shelves to go barren if he doesn’t rein in his sharp tariff plans, and meddles with the Federal Reserve.

“The big box CEOs flat out told him the prices aren’t going up, they’re steady right now, but they will go up,” an administration official familiar with the meeting told Axios. “And this wasn’t about food. But he was told that shelves will be empty.”

According to a separate official briefed on the meeting, Trump was told that if he doesn’t change course, the impact could be noticeable in as little as two weeks.

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Trump's China Tariff Shocks U.S. Importers. One CEO Calls It 'End Of Days.'

Sunday, 13 April 2025 00:33

Rick Woldenberg thought he had come up with a sure-fire plan to protect his Chicago-area educational toy company from President Donald Trump’s massive new taxes on Chinese imports.

“When he announced a 20% tariff, I made a plan to survive 40%, and I thought I was being very clever,” said Woldenberg, CEO of Learning Resources, a third-generation family business that has been manufacturing in China for four decades. “I had worked out that for a very modest price increase, we could withstand 40% tariffs, which was an unthinkable increase in costs.”

His worst-case scenario wasn’t worst-case enough. Not even close.

Trump tariffs live updates: China retaliates with 34% tariff as Trump digs in, vows to 'never change' policies

Friday, 04 April 2025 22:24

tariffs start President Trump has played down the shock impact of his tariff shift on markets, which kept spiraling downward on Friday as fears for the global economy grew.

US trading partners have vowed to retaliate after Trump ended months of suspense on Wednesday by revealing broad reciprocal duties on all countries, in what he has referred to as "Liberation Day." On Friday, China announced it will impose countermeasures against the US starting April 10, including a 34% tariff on US goods.

Trump's administration is imposing a baseline tariff of 10% across all countries beginning at 12:01 a.m. on Saturday. The US is upping those duties for various partners whom he described as bad actors starting next Wednesday, April 9.

Trump vowed to "never change" his policies on Friday, even as he touted progress with Vietnam, a country set to see one of the biggest US tariff hits.

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