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.

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

Walmart, which became the nation’s largest retailer by making low prices a priority, has found itself in a place it’s rarely been: Warning customers that prices will rise for goods ranging from bananas to car seats.

Walmart delivered another year of strong sales and profits with its competitive prices an increasingly strong magnet for inflation-weary shoppers, but this year appears to come with new challenges in an uncertain economic landscape.

Walmart ratcheted up sales and profits again in the third quarter with its comparatively low prices proving a powerful draw for shoppers seeking to cut spending where they could.