China’s Commerce Ministry Engages with Walmart on Supplier Pricing Amid Tariffs
Chinese officials and Walmart met to discuss supplier pricing amid U.S. tariffs. Walmart requested price reductions from Chinese suppliers to mitigate tariff impacts. Reports indicate potential cuts of up to 10% to offset costs imposed by U.S. tariffs, with no immediate comments from Walmart or China’s commerce ministry.
China’s commerce ministry held a meeting with Walmart to address concerns regarding supplier pricing amid recent tariffs imposed by the United States. Reports indicate that Walmart requested adjustments from Chinese suppliers, urging them to reduce prices to compensate for the U.S. tariffs on imports from China. The discussion took place on March 11, as reported by Yuyuantantian, a social media account linked to state-run CCTV.
Details revealed that Walmart specifically warned certain Chinese suppliers, including manufacturers of kitchenware and apparel, to consider price cuts of up to 10% for each round of tariffs. This implies that these suppliers would absorb the full extent of the tariff-related costs, as initiated by U.S. trade policies under President Donald Trump.
As of the latest reports, both Walmart and the Chinese commerce ministry have not provided any response to inquiries regarding the contents of the meeting or the proposed pricing adjustments. The silence from these entities leaves uncertainties surrounding their strategy in light of the evolving trade dynamics.
The meeting between China’s commerce ministry and Walmart highlights ongoing tensions and economic adjustments related to U.S.-China trade tariffs. Walmart’s request for Chinese suppliers to lower prices to offset duties illustrates the direct impact of trade policies on international retail operations. The lack of official comments from both entities raises questions about future collaboration and supplier strategies amidst these challenges.
Original Source: www.tradingview.com
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