Walmart warns President Trump trade war with China could force prices up

Marco Green
September 22, 2018

Money reports that Walmart sent a letter to Trade Representative Robert Lighthizer, saying the tariffs would hurt its customers, its suppliers and the USA economy. "The immediate impact will be to raise prices on consumers and tax American business and manufacturers". That penalty will rise to 25 percent beginning January 1.

Walmart said the tariff would impact prices of everything from food products to beverages and personal care items. "Furthermore, none of these items are related to intellectual property or trade secrets and it is hard to see how taxing these goods will resolve these more complex trade challenges".

Ma told China's Xinhua news agency Wednesday the promise he made - shortly before Trump took office - was based on friendly cooperation between the United States and China and rational growth for China-U.S. trade.

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

That means the USTR will start work on Mr. Trump's previous threats to impose tariffs on all of the remaining imported goods from China, the U.S.'s biggest trading partner past year.

Various categories of US tires and synthetic rubbers, as well as butadiene, will be among the roughly 3,600 products facing tariffs of 10 percent.

Of 298,000 metric tons of styrene-butadiene rubber imported by China in 2017, U.S. SBR accounted for about 6.6 percent of the total, according to Commerce.

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

Other reports by Click Lancashire

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