Walmart (WMT) joins rocker Bruce Springsteen and pop music icon Taylor Swift as getting a verbal lashing from president Trump on social media this week.

The president ripped Walmart execs on Saturday for signaling tariff-driven price hikes that are poised to begin later this month.

"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.

A Walmart spokesperson didn't immediately return Yahoo Finance's request for comment on Trump's post.

Walmart CEO Doug McMillon was among the CEOs who met with the president in late April to discuss tariff implications. A person familiar with the discussions told Yahoo Finance Walmart made a case to remove tariffs on China altogether as even lower tariffs would have major implications on prices for general merchandise items such as furniture and toys.

The Trump administration and China agreed to dial back tariffs for 90 days last week. The US tariff rate on China now sits at 30%, down from 145% at the height of the trade tussle between the economic superpowers.

"Low prices is what we stand for, and we're going to keep prices as low as we can as long as we can," Walmart CFO John David Rainey said on Yahoo Finance's Catalysts (video above) this week following the company's first quarter earnings. "But when you look at the magnitude of some of the cost increases on certain categories of items that are imported, it's more than what retailers can bear. It's more than what suppliers can bear."

"And so we'll work hard to try to keep prices low. But it's unavoidable that you're going to see some prices go up on certain items."

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Rainey said increases will be noticeable later this month.

Rainey added, "Well, if you've got a 30% tariff on something, you're likely going to see double digits [in price increases]."

The most impacted areas for Walmart will include baby strollers, furniture, and toys. Price hikes in these departments could major impacts on suppliers such as Newell Brands (NWL), reports Yahoo Finance's Brooke DiPalma.

Walmart's earnings day was mixed as shoppers spent somewhat cautiously given the greater economic uncertainty.

First quarter sales rose 2.5% from the prior year to $165.6 billion, falling shy of Wall Street estimates for $166.02 billion.

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Adjusted earnings per share increased 1.7% year over year to $0.61, beating estimates of $0.58. US same-store sales also beat expectations with a 4.5% increase, led by health and wellness, and groceries.

But the company did see transaction growth at its Walmart US stores weaken in the quarter compared to trends last year.

And while the company reiterated its full-year earnings per share outlook of $2.50 to $2.61, it was mostly below analyst estimates of $2.61. This is despite the company beating earnings estimates by $0.03 for the first quarter.

The company caveated its guidance by saying that should tariff rates return to 145% on China (and other Liberation Day levels) that it would be challenging to grow earnings. It also left open the potential to take a more cautious view on the holiday season based on how back-to-school shopping unfolds.

Brian Sozzi is Yahoo Finance's Executive Editor. Follow Sozzi on X @BrianSozzi, Instagram and on LinkedIn. Tips on stories? Email [email protected].

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