Walmart exec warns customers Trump's tariffs could mean higher prices

A cashier rings up a Walmart shopper's purchases (Credit: Victor J. Blue/Bloomberg—Getty Images)

Walmart CFO John David Rainey has cautioned that the discount retailer may have to raise prices should President-elect Donald Trump’s proposed tariffs plan be implemented.

“We never want to raise prices,” Rainey told CNBC on Tuesday. “Our model is everyday low prices. But there probably will be cases where prices will go up for consumers.”