President Donald Trump, fresh off a trip to the Middle East, renewed his criticism of Federal Reserve Chairman Jerome Powell on Saturday and called on Walmart to "eat the tariffs" rather than raise prices .
"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 .
Walmart ( WMT ) on Thursday warned that rising costs from tariffs could soon lead to higher prices for shoppers. The company was the latest to skip giving second-quarter profit guidance due to Trump's tariffs disrupting global trade.
Also on Saturday, Trump said the Federal Reserve should cut rates "sooner, rather than later," and continued to express his frustration with Powell
"Too Late Powell, a man legendary for being Too Late, will probably blow it again - But who knows???" Trump added.
President Trump said Friday that the US will set tariff rates for its trading partners within the next few weeks. He said his administration cannot negotiate trade deals with all countries at once due to limited capacity.
“I think we’re going to be very fair. But it’s not possible to meet the number of people that want to see us,” the president said during a meeting with business executives in the United Arab Emirates.
Meanwhile, Trump's Middle East visit has opened the door for Saudi Arabia and the UAE to push ahead with their AI ambitions, with firms like Nvidia ( NVDA ) and Advanced Micro Devices ( AMD ) set to supply advanced chips.
Here are the latest updates as the policy reverberates around the world.
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