Walmart is in the hot seat after pushing Chinese suppliers to cut prices
Chinese officials called Walmart executives to Beijing this week after the retailer pushed suppliers to lower prices in response to rising US tariffs. Walmart reportedly asked some Chinese manufacturers, including kitchenware and clothing suppliers, to cut prices by up to 10% for each round of new tariffs.
The latest 10% US tariff on Chinese goods kicked in on March 4, following another hike on February 4. Earlier this month, US Treasury Secretary Scott Bessent said he was confident Chinese manufacturers would absorb the hit.
Walmart isn’t so sure. Last month, its stock took its biggest hit since 2023 after the retailer warned of a sharp sales slowdown. Still, shares are up 42% over the past year.
The latest 10% US tariff on Chinese goods kicked in on March 4, following another hike on February 4. Earlier this month, US Treasury Secretary Scott Bessent said he was confident Chinese manufacturers would absorb the hit.
Walmart isn’t so sure. Last month, its stock took its biggest hit since 2023 after the retailer warned of a sharp sales slowdown. Still, shares are up 42% over the past year.
