Scott Bessent admits Trump’s tariffs may mean Walmart shoppers pay more

New York Post - May 18th, 2025
Open on New York Post

Treasury Secretary Scott Bessent revealed that Walmart might increase prices due to President Donald Trump's tariffs, despite Trump's warning to avoid doing so. This comes after a call between Bessent and Walmart CEO Doug McMillon, in which Bessent emphasized the drop in gasoline prices as more critical for consumers. He noted that while Walmart would absorb some tariff costs, others would be passed to consumers. Trump has publicly urged Walmart not to raise prices, promising to monitor the situation closely. While Walmart executives have confirmed rising prices, Bessent reassured that the increases wouldn't be severe.

The broader context involves ongoing economic negotiations, including a downgrade of US government debt by Moody's Ratings and Trump's new tax plans. The administration aims to renegotiate tariffs with major trading partners, including a significant reset of tariffs with China. Bessent defended the administration's economic approach, suggesting that uncertainty serves as a strategic negotiating tool in trade talks. The potential impacts on consumers and businesses are significant, with uncertainty affecting spending plans. Critics remain skeptical of the administration's growth projections and fiscal strategies.

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RATING

6.8
Fair Story
Consider it well-founded

The article provides a well-rounded and timely examination of the impact of tariffs on Walmart and its consumers, supported by credible sources and balanced perspectives. It effectively communicates the potential implications of economic policies on everyday life, making it highly relevant to the public. The story's strengths lie in its clarity, timeliness, and public interest, though it could benefit from enhanced transparency and source diversity. Overall, the article succeeds in informing readers about a complex issue while maintaining an objective tone and engaging presentation.

RATING DETAILS

8
Accuracy

The story presents a largely accurate depiction of the situation involving Walmart, tariffs, and the U.S. Treasury Secretary, Scott Bessent. Key facts such as Bessent's acknowledgment that Walmart may pass some tariff costs to consumers and his conversation with Walmart CEO Doug McMillon are corroborated by multiple sources. The mention of President Trump's warning to Walmart and the company's response are also consistent with reported facts. However, areas needing verification include the specific details of the conversations between Bessent and McMillon, as Walmart did not comment on the description provided. Overall, the story aligns well with available data, though some claims would benefit from direct confirmation from involved parties.

7
Balance

The article provides a balanced view of the situation by presenting multiple perspectives, including those of Scott Bessent, Walmart executives, and President Trump. It acknowledges the potential impact of tariffs on consumers and businesses, while also highlighting the administration's economic strategies and justifications. However, the story could be improved by including perspectives from independent economic analysts or consumer advocacy groups to provide a fuller picture of the potential implications of the tariffs on the broader economy.

8
Clarity

The article is generally clear and well-structured, with a logical flow of information from the introduction of tariffs and their potential impact to the responses from Walmart and the government. The language is straightforward, making complex economic issues accessible to a general audience. However, the story could benefit from clearer explanations of technical terms like 'strategic uncertainty' to ensure all readers fully grasp the implications.

6
Source quality

The story relies primarily on statements from government officials and Walmart executives, which are credible sources given their direct involvement. However, the lack of direct quotes from Walmart CEO Doug McMillon or other independent experts limits the depth of the source quality. Additional input from economic analysts or consumer advocacy groups could enhance the article's credibility by offering external validation of the claims made.

5
Transparency

The article provides a reasonable level of transparency by citing specific individuals and their roles, such as Scott Bessent and John David Rainey. However, it lacks detailed explanations of the methodology behind the claims, such as how tariff costs are calculated or the specific economic models used to predict inflation impacts. Greater transparency regarding the sources of economic data and the rationale behind government and corporate strategies would improve the reader's understanding of the article's basis.

Sources

  1. https://www.axios.com/2025/05/18/trump-tariffs-bessent-walmart-prices
  2. https://www.foxbusiness.com/politics/bessent-says-walmart-absorb-some-tariffs-after-speaking-retailers-ceo
  3. https://nationalpost.com/news/world/walmart-trump-tariff-treasury-secretary
  4. https://breakingthenewsbarrier.com
  5. http://www.atalkwiththefather.com/fulfillment_of_today.htm