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AP Business SummaryBrief at 2:23 p.m. EDT

By Associated Press

AP Business SummaryBrief at 2:23 p.m. EDT

Trump's tariffs may mean Walmart shoppers pay more, his treasury chief acknowledges

WASHINGTON (AP) -- Treasury Secretary Scott Bessent has acknowledged that Walmart, the largest U.S. retailer, may pass along some of the costs from President Donald Trump's tariffs to its shoppers through higher prices. Bessent on Sunday described his call with the company's CEO, after President Donald Trump warned Walmart to avoid raising any prices from the tariffs and vowed to keep a close watch on what it does. Walmart executives said last week that higher prices began to appear on their shelves in late April and accelerated this month.

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