Walmart says increased tariffs on Chinese goods will cause prices to rise
- 5 years ago
Walmart, America's largest retailer, says the Trump administration's tariff hikes on Chinese goods will increase prices for its customers.
Walmart's chief financial officer Brett Biggs told reporters that they are developing strategies to mitigate cost increases and working with its suppliers to manage prices.
The company sources about one-third of items from overseas, including from China.
President Trump increased tariffs on 200 billion US dollar worth of Chinese imports to 25 percent from 10 percent last week.
The move is widely expected to raise prices on thousands of products, including clothing, furniture and electronics.
Walmart's chief financial officer Brett Biggs told reporters that they are developing strategies to mitigate cost increases and working with its suppliers to manage prices.
The company sources about one-third of items from overseas, including from China.
President Trump increased tariffs on 200 billion US dollar worth of Chinese imports to 25 percent from 10 percent last week.
The move is widely expected to raise prices on thousands of products, including clothing, furniture and electronics.