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Walmart announced it is raising prices due to increased costs from President Trump's tariffs on foreign goods.Analysts are not surprised by the news, as economists have been warning for months that companies would pass such costs onto consumers.Doug McMillon, Walmart CEO, said, "Our merchants and suppliers are partnering together to try and offset as much of the pressure as possible. We want to keep prices as low as we can for as long as we can but we're starting to see some movement."Ted Rossman, a senior industry analyst at Bankrate, explained, "Some of the products that are more likely to be affected would be, obviously things imported from China. So that could be electronics, that could be toys, apparel, footwear, things like that."China remains a significant source for electronics and toys, but Walmart imports goods from various countries, including Costa Rica, Colombia, and Peru. The company is warning customers to expect higher prices on a range of goods from bananas to car seats. This announcement follows a temporary deal between the U.S. and China to reduce tariffs on each other's goods, lowering them from 145% and 125% to 30% and 10%, respectively.Walmart executives stated that the price increases on store shelves will be gradual, having started last month, accelerated this month, and a bigger sting expected in the summer months. However, two-thirds of Walmart's goods come from the United States, with groceries making up a significant portion. Amid this uncertainty, many Americans have already begun to reduce their spending. Data from the Commerce Department shows retail sales growth slowed in April, rising just 0.1% compared to 1.7% in March, when Americans increased their shopping to get ahead of tariffs on cars.