Walmart warns that prices are about to go up—and soon

Unfortunately, it looks like shoppers are about to see higher prices as a result of U.S. tariffs—and soon.

The tariffs that President Donald Trump promised to levy on other countries are already upending how Americans do business. But we might not be seeing the full impact as consumers just yet.

According to an NPR report from this week, Walmart CEO Doug McMillon told investors that the country’s increased tariffs on imports from other countries are already impacting the retailer and will soon translate into higher prices for consumers.

A lot of what Walmart sells is already made or put together in the U.S., but a significant portion of its inventory remains imported from abroad. A lot of that is electronics and toys made in China, but it also impacts familiar food staples like bananas and avocados.

When will you see the impact on your bill? Potentially as soon as late May. How long will prices be on the rise? It could go on well into the summer.

The next question is, of course, how does this end? Well, the Trump administration appears focused on negotiating trade deals with countries on a case-by-case basis. That makes it difficult to predict exactly what’s going to happen next.

Financial markets are known to recoil at instability. That’s probably why the global economy is on the fritz. It remains to be seen how a cost of living hike will impact this already turbulent situation.