The sheer scale of Walmart's U.S. business - $442 billion in net sales last year, following a surge since the pandemic - gives it more negotiating power with suppliers. Record memberships at Sam's Club and booming sales in India and China have also insulated it from recent weakness in the U.S. economy.

Walmart CEO Doug Millon said the company will try to keep prices low, but the company won't be able to absorb the full cost of the tariffs.

President Donald Trump has ripped into Walmart, saying on social media that the retail giant should eat the additional costs created by his tariffs.

Nike is the latest retailer to announce price hikes amid President Donald Trump’s elevated import tariffs. See what retail companies have done so far.

President Donald Trump's tariffs are widening the gap between market-leader Walmart and Target, the companies' latest quarterly reports show, underscoring missteps at the smaller U.S. retailer amid economic uncertainty.

Walmart has significant China exposure -- about 60% of the manufactured products it sells -- but its reputation for "everyday low prices," economies of scale, and strength in groceries make it more resilient in a trade war or a down economy than most of its retail peers.

Walmart is expected to lay off around 1,500 employees from its global technology and in-house advertising teams, reports say.