Walmart warning it'll raise prices as Trump's China tariffs kick in

Darnell Taylor
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.

The world's largest retailer has issued a warning to its customers about the impact tariffs will have.

Despite the plea, the White House pushed forward with 10 percent tariffs on 200 billion dollars-worth of Chinese products, which will take effect next week. That penalty will rise to 25 percent beginning January 1.

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

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At a two-day event bringing together Alibaba's investors, Ma told the Chinese news website Xinhua that the promise "was made on the premise of friendly U.S-China partnership and rational trade relations".

Walmart's letter was filed as part of more than 6,000 comments gathered over the summer and into September to the USTR as it considered adding this round of tariffs to the $50 billion already in place.

This has led US President Donald Trump to repeat accusations first made on his campaign trail that China is manipulating its currency to combat US tariffs, "raising concerns that the currency market could become the next front in the economic battle between the two countries", says the BBC.

Various categories of USA tires and synthetic rubbers, as well as butadiene, will be among the roughly 3,600 products facing tariffs of 10 percent. "But we will continue to work hard to promote the healthy development of China-U.S. trade".

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