DURING WALMART’S latest earnings call on May 15th, Doug McMillon stated the obvious. “The higher tariffs will result in higher prices,” the big-box behemoth’s chief executive told analysts, referring to Donald Trump’s levies on imports of just about anything from just about anywhere. Who’d have thought? Two days later the president weighed in with an alternative idea. Walmart (and China, where many of those imports come from) should “EAT THE TARIFFS,” he posted on social media. Mr McMillon did not respond publicly to the suggestion. But it is likely to be a polite, lower-case “Thanks, but no thanks.”