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Beyert also revealed that he had a phone call with Walmart CEO Doug McMillon on Saturday to discuss the latest developments of the world's largest retailer's plan to raise prices due to rising import tariffs. U.S. President Donald Trump had previously stated on Saturday that Walmart should stop attributing price increases to tariffs and instead "absorb the cost of tariffs." "In fact, Walmart will, as you say, absorb some of the tariff costs, just like they did in 2018, 2019, and 2020," Beyert said. "Overall, we see that service inflation is decreasing and inflation is falling for the first time in four years." Beyert emphasized that he did not pressure Walmart: "Doug and I have a good relationship, so I just want to hear directly from him instead of through second- or third-hand information from the media. All of this comes from their financial report conference calls, and companies must make worst-case assumptions during financial reports."