Major chains are fighting two battles at once: a financial battle to keep costs low in the face of new tariffs, and a political one to avoid the president's wrath.

Walmart, the nation's largest private employer, is cutting about 1,500 jobs as it tries to cut overhead costs and streamline operations as economic pressures weigh.

Related: Walmart issues urgent message about the alarming cost of food But some of the largest retailers in the U.S. are grappling with plenty of difficulty, too, and those problems come with a lot of complexity.