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In earnings calls and public statements, executives of many of America's largest and most profitable grocery retailers are citing Trump's tariffs as justification for passing on the costs to consumers, according to a new report released on Tuesday by Accountable.US.
In a first-quarter earnings call in May, Walmart CEO Doug McMillon said that while the company was better positioned than others to absorb the cost of tariffs, they would still "result in higher prices" for consumers. Since then, some grocery items at America's largest retailer have shown 40% hikes that have outraged consumers, fueling calls for a boycott.