Walmart Warns Of Price Hike Due To Trump Tariffs

Walmart Inc the largest retailer by far in the United States as well as in the world, has issued a warning that id the Trump administration imposes a tariff on Chinese imports, then it will be forced to increase the prices of its products, according to news reports published in the media. The news reports cited a letter that was written about two weeks ago by the company to the U.S. Trade Representative Robert Lighthizer. A news report from news agency Reuters claimed to have seen the latter.

The letter came into the public domain a few days after a fresh round of tariffs on $200 billion worth of Chinese goods were imposed by the united States president Donald Trump.;

The prices of virtually everything that it sells – starting from food products to beverages and personal care items, would get impacted by the trade tariffs, warned Walmart in its letter.

The sending of the letter was confirmed and acknowledged by Walmart, according to a report published by Reuters. News reports also said that the retailer said in the statement that its aim was to urge the two countries – China and the United states – the two p[arties in the trade war, to find out ways and means to end the spate of tit-for-tat tariffs being imposed by them.

There were no comments available in the media from the U.S. Trade Representative’s office.

The trade war between the two largest economies of the world recently got escalated after the imposition of a 10 per cent import tariffs on Chinese goods worth $200 billion was imposed by the T4ump administration earlier this week. The list of goods under the new latest tariff regimen includes consumer products like gas grills, luggage and travel bags, mattresses and helmets. In a retaliatory move, China also imposed tariffs on about $50 billion of American imports in to the country.

“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.

Gas grills, bicycles, Christmas lights and bicycles were included in the list of the of the consumer products whose price would get impacted according to Walmart.

The report was first reported by CNN Money which also cited the letter from Walmart.

(Adapted from reuters.com)

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