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.

Treasury Secretary Scott Bessent said retail giant Walmart "will be absorbing" the impact of President Donald Trump's signature tariffs, but some costs "may get passed on to consumers." Bessent told CNN's "State of the Union" May 18 that he spoke with Walmart CEO Doug McMillon the day before,

Treasury Secretary Scott Bessent on Sunday played down inflation risks from the Trump administration’s tariffs, saying that he spoke to the head of Walmart and the retailer’s warnings of price increases for consumers were simply a “worst case scenario.