Walmart and Other Retail Giants to Raise Prices Amid Ongoing U.S.–China Trade War

The nation’s largest retailer is signaling higher prices ahead as fallout from the ongoing trade tensions between the U.S. and China continues to ripple through the economy.

On Thursday, Walmart announced it will raise prices on a number of items in the coming weeks, citing rising tariffs as the key driver. “The level of tariffs that have been proposed is pretty challenging,” said a company representative. “Our concern is that consumers are going to feel some of that.”

Some prices have already inched upward. For example, Walmart raised the price of bananas—one of its most frequently purchased items—from 50 cents to 54 cents per pound.

While the Trump administration recently struck a temporary agreement with China to dramatically lower tariffs for 90 days, the tariff on Chinese goods coming into the U.S. remains at 30 percent. Walmart and other retailers say that’s still too high. “We’re appreciative of the progress,” said a Walmart executive, “but we’d like to see tariffs come down more.”

Walmart isn’t alone. Other major companies—like Black & Decker, Hasbro, Mattel, and Procter & Gamble—have also warned of upcoming price hikes.

Jean Sirocco, an executive at the Port of Los Angeles, emphasized the timing issue: “May is typically the month when the majority of purchase orders are placed for the holiday season. If we don’t get those orders in at the right price points now, shelves could be slimmer and prices higher come the end of the year.”

The ripple effect is clear: from ports to retailers to customers, the prolonged trade dispute could hit wallets across the country.

Explore: NBCPalmSprings.com, where we are connecting the Valley.