Walmart will leverage tariffs to gain market share by encouraging competitors to raise prices while strategically keeping prices low where it matters most to customers.

Walmart, the world's largest retailer, plans to increase product prices due to high tariff costs, sparking criticism from former President Donald Trump. He urges the company to absorb the tariffs instead of passing the cost to consumers.

The retailer’s CEO last month was among a small group of executives who warned the president that tariffs would result in price hikes.