Walmart warns Trump tariffs may force higher prices

Irving Hamilton
September 22, 2018

Earlier this month, Walmart wrote a letter to the office of U.S. Trade urging the Trump administration to reconsider the tariffs.

Next week, the United States will place a ten-percent tariff on 200 billion dollars worth of goods from China. That penalty will rise to 25 percent beginning January 1.

The news channel says China, which buys far less from the United States than the other way round, is starting to run low on American products to target, "raising speculation about what other measures it could take to hit back".

Walmart said the tariff would impact prices of everything from food products to beverages and personal care items.

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"Walmart and our suppliers will pay the cost of increased duties, which are simply taxes levied on products at the border", Thorn wrote.

USA companies have long complained that China can make it hard for them to access its massive market and sometimes doesn't play fair under global trade rules. But most don't support Mr. Trump's tariffs as a way to prompt better behavior from Beijing. The action by the Chinese Ministry of Commerce places tariffs on 5,207 USA product categories beginning September 24, the same day the US tariffs on Chinese goods begin.

About 10 percent of Walmart's sales a year ago was linked to China.

China has categorically ruled out devaluing its currency in a bid to boost exports, despite the growing threat of an all-out trade war with the US.

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