U.S. President Donald Trump said over the weekend that Walmart (NYSE:WMT) should bear its share of import tariffs and warned the retail giant not to raise prices on its products, while the company said it would raise prices as a result of the levies.

Treasury Secretary Scott Bessent reiterated Trump’s warning in an interview with NBC on Sunday.

Trump tweeted that Walmart should "stop trying to blame the Tariffs as the reason for higher prices throughout the supply chain. Walmart and China should just shoulder the Tariffs as people say and charge their VIP customers nothing. I will be watching and so will your customers!!!"

Trump's warning came just days after Walmart warned on an earnings call that it would raise prices because of high U.S. import tariffs, particularly on China.

“Given the size of the tariffs, even at the reductions announced this week, we can’t absorb all of them,” Walmart senior vice president Stephanie Schiller Wissink said on an earnings call last week.

Other retailers including shoe maker Birkenstock (NYSE: BIRK) have also announced price increases on those products as a result of Trump's tariffs, while Nintendo Co. Ltd. (TSE: 7974) has warned that the price of its upcoming video game console, the Switch 2, could rise significantly in the U.S. due to import duties.

The United States and China announced a significant de-escalation in their bitter trade war last week, with the United States slashing tariffs on China from 145% to 30%, while Beijing will reduce its tariffs on the United States from 125% to 10%, effective for at least the next 90 days.

But as a major source of imports, China's tariffs are still relatively high. In addition, Trump's industry tariffs, including those on auto and commodity imports, are also expected to increase import costs for companies, which in turn may pass those costs on to consumers.

While Walmart sources most of its merchandise from the United States, the retailer still relies on China for a variety of baby products as well as items such as plastics.