Walmart‘s CFO, David Rainey, was recently on The Claman Countdown, where he delivered a devastating blow to Americans that shop at the retail giant.

Rainey was talking about the proposed tariffs that incoming President Trump intends to implement when he said that it’s “likely consumers are going to pay more for the items that they pay and that these tariffs are applied to.”

While Walmart boasts that they sell mostly goods made in America, they say they are in no way immune to the price inflation that will come as a result of the proposed tariffs.

Those proposed tariffs are a universal 10-20 percent tariff would be imposed on imports from all foreign countries, while an additional 60 percent tariff would be imposed on imports specifically from China.

Here’s the thing: Americans are living in a time now where we are dealing with inflation. Goods, services and experiences are all dealing with inflated prices, so what would this mean for those things that are already inflated?

The National Retail Federation says you can expect proposed tariffs to increase the price of six categories of goods: Apparel, toys, furniture, household appliances, footwear and travel goods.

A Walmart spokesperson said in a statement to Fox Business that the company remains “concerned that significantly increased tariffs could lead to increased costs for our customers at a time when they are still feeling the remnants of inflation.”

In other words, if you have just adjusted your budget to allow for you to grocery shop like you used to in un-inflated times, there is a good chance that you might be doing that once again come January 2025.