Two American retail titans are on the front lines in President Trump’s trade war. Investors seem to be betting that Walmart can dodge even more bullets than Amazon. Walmart used its fiscal first-quarter report on Thursday to warn that its prices are going up as products covered by new tariffs start hitting its shelves.

Walmart, which became the nation’s largest retailer by making low prices a priority, has found itself in a place it’s rarely been: Warning customers that prices will rise for goods ranging from bananas to car seats.

Traders are pouring cash into Amazon, convinced it’s better built to survive President Trump’s trade war than its rivals. As new tariffs hit shelves across the US, retail giants are scrambling, but Wall Street is showing clear favoritism.