China Warns Walmart Against Shifting U.S. Tariff Costs to Suppliers

Benzinga

Chinese authorities summoned Walmart executives amid reports that the retailer pressured Chinese suppliers to cut prices to offset U.S. tariffs, according to the Wall Street Journal.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02Chinese authorities summoned Walmart executives amid reports that a retailer pressured Chinese

00:06suppliers to cut prices to offset U.S. tariffs, according to the Wall Street Journal.

00:10The move follows President Trump's decision to add a 20 percent tariff on Chinese imports,

00:14putting U.S. retailers in a bind between higher consumer prices and supplier costs. Beijing warned

00:20Walmart that passing tariff costs on to suppliers could breach contracts and lead to legal consequences.

00:26Walmart reaffirmed its commitment to Chinese supply chains

00:29and pledged to collaborate with suppliers.

Category

Transcript

Recommended