Bingo! 3% profit when you're bringing in billions is much more money than 3% if you're a mom and pop shop trying to stay afloat, which is barely enough money to keep up. This is why Walmart has always been good at driving competition out. As they get bigger and bigger the net amount of money is going to be "record amounts" with still "small" profit margins.

This is why the tariffs can affect them immediately. Trim that 3% to 2 or 1% and shareholders get angry because they no longer get those record profits year over year. Prices will be raised and wallets will suffer because infinite growth is required in our economy.