CINCINNATI — Walmart announced it will begin raising prices on thousands of products as early as the end of this month, with more increases coming in June, as the retail giant feels the impact of tariffs.
About one-third of Walmart's products are imported and will be directly affected by the tariffs, according to company officials.
"I come to Walmart for the rollbacks and the low prices, so it will be a disadvantage to my family and families I know in the community, so it is becoming very difficult," said Michelle Christian, a Walmart shopper.
Several everyday items could cost more, including groceries like avocados, bananas and coffee. Electronics and toys from China will also likely see price increases.
The impact could be substantial for some products. Walmart's CFO told the Associated Press China-made car seats currently selling for $350 at Walmart will likely increase by another $100.
WATCH: Breaking down how Walmart says tariffs will impact prices
"It's a scare tactic. It causes us to be fearful, but we're staying prayerful and planning ahead," Christian said.
Financial expert John Bovard said when the world's largest retailer announces price hikes, it signals a broader trend.
"So with Walmart being the low-cost provider and the lowest in the industry, I do think other retailers will continue to follow suit," said Bovard, a finance expert with Incline Wealth Advisors.
Bovard points to what happened with Amazon last month as a warning sign.
"It was introduced that Amazon might show the prices on their website of 'This is due to the tariff,' 'These price increases are due to the tariffs.' Obviously, the Trump administration was not happy about that; they made them take that out," Bovard said.
He believes that interaction may keep other retailers from being transparent about why prices are rising.
"Yeah, I think companies will want to stay out of the crosshairs if they can," Bovard said.
That's why Bovard said Walmart's announcement could be sending a message about the real-world impact of these policies.
"They are the largest retailer, and if they are coming out and saying that they are going to have to increase their prices, you would think that this will have an effect on these negotiations that are going on right now," Bovard said.
So, how can you protect your wallet? Bovard has this advice: "If you can, I would say to try to buy in bulk right now."
Walmart executives say that with the scope of these tariffs, they can't absorb all of the effects but will try to keep prices as low as possible for customers.
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