Walmart warns Trump tariffs may force price hikes - letter




FILE PHOTO: Walmart store in Encinitas, California
FILE PHOTO: Walmart store in Encinitas, California  

(Reuters) - Walmart Inc (WMT.N) said that it may hike prices of products if the Trump administration imposes a tariff on Chinese imports, according to a letter the company wrote to U.S. Trade Representative Robert Lighthizer two weeks ago and seen by Reuters on Thursday.

The letter comes days after U.S. President Donald Trump slapped tariffs on $200 billion worth of Chinese goods.

Walmart, the world's largest retailer, in its letter said the tariff would impact prices of everything from food products to beverages and personal care items.

Walmart confirmed it sent the letter and in a statement to Reuters urged the two countries to find solutions.

The U.S. Trade Representative's office was not immediately available for comment.

Earlier this week, Trump escalated his trade war with China by imposing 10 percent tariffs on about $200 billion (£151 billion) worth of Chinese imports, including consumer products like gas grills, luggage and travel bags, mattresses and helmets.

"As the largest retailer in the United States and a major buyer of U.S. manufactured goods, we are very concerned about the impacts these tariffs would have on our business, our customers, our suppliers and the U.S. economy as a whole," Walmart wrote in its letter to Lighthizer.

In its list of consumer products that could be affected by these tariffs, Walmart included gas grills, bicycles, Christmas lights and bicycles.

CNN Money reported the news first, citing Walmart's letter.


(Reporting by Rishika Chatterjee and Nivedita Balu in Bengaluru; Editing by Lisa Shumaker)

COMMENTS

More Related News

US Fed like a
US Fed like a 'stubborn child': Trump

US President Donald Trump on Monday renewed his attacks on the Federal Reserve, saying the central bank's reluctance to cut interest rates was standing in the way of blowout economic expansion. "Despite a Federal Reserve that doesn't know what it is doing... we are on course to have one

House Oversight threatens to subpoena Kellyanne Conway
House Oversight threatens to subpoena Kellyanne Conway

The U.S. Office of Special Counsel has cited Conway for multiple violations of the Hatch Act.

North Korea says Kim receives
North Korea says Kim receives 'excellent' letter from Trump
  • World
  • 2019-06-23 05:32:40Z

The White House declined to confirm that Trump had sent a letter to Kim. It comes as nuclear talks between the U.S. and North Korea broke down after the failed summit between Kim and Trump in February in Vietnam.

Amid tough talk, Trump says he could be Iran
Amid tough talk, Trump says he could be Iran's 'best friend'

President Donald Trump said Saturday that military action against Iran was still an option for its downing of an unmanned U.S. military aircraft, but amid heightened tensions he dangled the prospect of eventually becoming an unlikely "best friend" of America's longtime Middle Eastern adversary. Trump also said "we very much appreciate" that Iran's Revolutionary Guard chose not to target a U.S. spy plane carrying more than 30 people. The president's softer tone Saturday marked a stark contrast to the anti-Iran rhetoric he employed throughout the presidential campaign and presidency, including his use of punishing economic sanctions in an attempt to pressure Iran to give up its quest to...

Trump postpones nationwide immigration enforcement sweep
Trump postpones nationwide immigration enforcement sweep

President Donald Trump on Saturday delayed a nationwide immigration sweep to deport people living the United States illegally, including families, saying he would give lawmakers two weeks to work out solutions for the southern border. The move came after House Speaker Nancy Pelosi called Trump on Friday

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: Economy

facebook
Hit "Like"
Don't miss any important news
Thanks, you don't need to show me this anymore.