A Fox & Friends guest has ripped into Walmart for blaming its impending price hikes on President Donald Trump’s tariffs.
CEO Doug McMillon said Thursday during an earnings call that the discount retailer is feeling the squeeze of Trump’s so-called Liberation Day levies, even after they were reduced.
“The higher tariffs will result in higher prices,” he added, saying that consumers will feel the trickle-down effect by the end of this month.
Speaking on Fox News’ morning show, journalist Batya Ungar-Sargon—who recently had a table-banging meltdown on CNN—was outraged.
Host Brian Kilmeade teed her up nicely, suggesting that Walmart likes to “brag about how much they make in America.”
“Why do they have to worry about raising prices?” he asked.
“This is absolutely unacceptable and infuriating,” a visibly worked-up Ungar-Sargon said.
She added that Walmart “walks around bragging that 75 percent of the products that they sell are made here in the United States.”
It is unclear where the journalist got this statistic. In the fiscal year 2023 two-thirds, around 66 percent, of Walmart’s total product spend in the U.S. was on items made, grown, or assembled in the country.
The news she was reacting to came from an earnings call where the company’s finance chief John David Rainey asserted that about a third of Walmart’s U.S. stock currently comes from outside the country, with China, Mexico, Canada, Vietnam, and India its largest markets for imports.
“Why are you raising prices?” she continued. “If it’s because they are reshoring their manufacturing, I understand. That’s not what he said. He said because of the tariffs.”
She then erroneously claimed that Walmart’s profit for 2024 was $169 billion. Walmart’s annual net income for 2024 was around $15.5, according to Macrotrends.
“I just have to say do you know what Walmart yearly profits were last year? $169 billion. Don’t raise prices. Support the president. Support the agenda. Support the American working class,” she fumed.
The journalist might have been referring to the company’s 2024 revenue of $161.51 billion, but she still would have got the number wrong.
Walmart’s Rainey said consumers will start taking the hit in late May.
“I’m concerned that consumer is going to start seeing higher prices. You’ll begin to see that, likely towards the tail end of this month, and then certainly much more in June,” he said during the earnings call.
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