Morning Business Report: Trump pressures Walmart on tariffs, U.S. credit downgraded, and new Alzheimer’s test approved
President Donald Trump is urging Walmart to absorb the cost of tariffs rather than pass those expenses on to consumers.
(LILAMAX)- President Donald Trump is urging Walmart to absorb the cost of tariffs rather than pass those expenses on to consumers. The call comes after Walmart CEO Doug McMillon said last week that prices could rise due to the latest tariffs imposed by the Trump administration. Several major brands, including Adidas and McDonald’s, have echoed concerns that the tariffs could disrupt supply chains, raise prices, and add pressure to consumers already struggling with inflation. The tariffs are part of the White House’s broader trade strategy with China and other global partners.
In another blow to the U.S. economy, credit agency Moody’s has downgraded the U.S. credit rating, citing ballooning government debt, which is nearing $37 trillion. This move follows earlier downgrades from Fitch Ratings and S&P Global Ratings. Moody’s had previously issued a negative outlook on the U.S. more than a year ago. The one-notch downgrade reflects growing concerns over long-term fiscal stability. Despite the downgrade, Wall Street wrapped up a strong week, fueled by optimism over a temporary agreement between the U.S. and China to reduce certain tariffs. The Nasdaq surged 7%, leading the broader market gains as investors welcomed the move as a step toward easing global trade tensions.
In medical news, U.S. regulators have approved the first-ever blood test designed to aid in the diagnosis of Alzheimer’s disease. The test detects early signs of amyloid, a protein associated with the disease’s progression. The test is authorized for individuals aged 55 and older who are showing signs and symptoms of cognitive decline, marking a significant advancement in early detection and intervention for Alzheimer’s—the most common form of dementia among older adults.
Looking ahead to the holiday weekend, Ace Hardware has announced it will give away one million free American flags on Saturday, May 24. The initiative, in partnership with the Veterans of Foreign Wars (VFW), aims to honor those who served by encouraging flag displays nationwide while supplies last.
