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

Lloyd Doyle
September 22, 2018

President Trump's base better get ready for some sticker shock come Monday.

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

Walmart, the biggest USA retailer, warned the Trump administration the newest round of tariffs on imported Chinese goods could prompt it to raise prices on products from shampoo to bicycles to food.

Several chains asked the White House not to implement the added tariffs on $200 billion in goods.

On Monday, President Trump announced new tariffs on $200 billion in Chinese imports, prompting Beijing to retaliate with levies on $60 billion in US goods.

Trump's former chief strategist, who left the administration after a tumultuous stint, said trade had always been at the top of Trump's campaign strategy.

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".

Commenting on the measure, he said: "It's not just any tariff".

"It's disappointing that, despite the voices of those impacted, the administration continues to advance harmful tariff policies that threaten to weaken the USA economy", Matthew Shay, the National Retail Federation's chief executive, said in a statement on Friday. "We have far more bullets". And we will come back with more if they retaliate.

The former investment banker also noted that tariffs have previously been limited to imports of between roughly $10 billion (£8 billion) and $30 billion (£23 billion).

The company has been working on "mitigation strategies", Walmart spokesman Randy Hargrove told The Post. "We encourage the two countries to find near-term solutions to ease trade tensions that will allow more opportunities for USA exports and benefit families in both countries".

Other reports by Iphone Fresh

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