Robert Besser
11 Mar 2025, 14:53 GMT+10
BENTONVILLE, Arkansas: Walmart is pressuring some Chinese suppliers to cut prices in response to President Donald Trump's imposed U.S. tariffs, but suppliers are pushing back, Bloomberg News reported this week.
The U.S. retail giant has asked manufacturers in sectors such as kitchenware and clothing to lower prices by as much as 10 percent per round of tariffs, effectively passing the full cost of the duties onto them, according to sources cited in the report.
However, few suppliers have agreed to the demand, as many already operate on tight profit margins due to Walmart's cost-cutting procurement strategies.
The retailer first requested price reductions in early February when Trump's initial round of tariffs on Chinese imports took effect. Additional cuts were sought later that month when Trump threatened to double duties, the report said.
"As we have done in the past, we will continue to work with suppliers to keep prices as low as possible for our customers," a Walmart spokesperson told Reuters.
"In the meantime, we encourage all parties to work towards finding common ground that will protect consumers from price hikes and continue to grow our economy," the spokesperson added.
Last month, Walmart issued a cautious outlook, forecasting sales and profits below expectations for the current year. The company cited high interest rates and trade uncertainties, including Trump's tariffs, as key risks to its business.
Get a daily dose of Arizona Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Arizona Herald.
More InformationBENTONVILLE, Arkansas: Walmart is pressuring some Chinese suppliers to cut prices in response to President Donald Trump's imposed U.S....
NEW DELHI, India: The United States is pressing India to lower tariffs and increase defense purchases to secure a stronger bilateral...
NEW YORK, New York - U.S. stocks plunged on Monday, joining a global rout which followed U.S. President Donald Trump not ruling out...
NEW YORK CITY, New York - The global foreign exchange market experienced notable shifts on Monday, influenced by escalating trade tensions...
WASHINGTON, D.C.: The U.S. Energy Department estimates it will take US$20 billion and several years to refill the Strategic Petroleum...
LONDON, U.K.: British Petroleum CEO Murray Auchincloss saw his pay package drop to 5.4 million pounds (US$6.95 million) in 2024, down...
LOS ANGELES, California: Los Angeles County, Pasadena, and other public agencies have sued Edison International and its subsidiary,...
WASHINGTON, D.C.: Multi-billionaire Elon Musk, a close adviser to U.S. President Donald Trump, has welcomed his 14th child. His newest...
WASHINGTON, D.C.: Former U.S. President Donald Trump says he wants to cut federal funding for colleges that allow what he calls illegal...
(Photo credit: Brad Penner-Imagn Images) Cameron Johnson scored 18 points, including a clutch foul-line jumper over Luka Doncic with...
(Photo credit: Petre Thomas-Imagn Images) Ja Morant scored 29 points and added 12 assists to lead the injury-depleted Memphis Grizzlies...
(Photo credit: Scott Sewell-Imagn Images) With both teams winning on the other team's home court during the regular season, Kansas...