A recent Walmart earnings report citing tariffs as a potential reason for raising prices promoted President Donald Trump to tell the world's largest retailer to "eat the tariffs."

Trump increases tariffs on all Chinese imports by 10 percent. China retaliates with 10 to 15 percent tariffs on U.S. coal and liquefied natural gas products, as well as agricultural equipment. Trump also announces a 25-percent tariff on all steel and aluminum products coming into the U.S., which comes into effect in mid-March.