Hong Kong
Cnn
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Walmart is caught in the middle of a growing trade war between the United States and China.
According to a state media report, Chinese officials on Tuesday called for US retail company executives to see if it had pressured its suppliers in China to tackle the growing taxes imposed by Donald Trump.
Trump doubled prices on all Chinese imports by last week. In response, China has announced a new era of revenge rates, covering US agriculture imports, which came imposed on Monday.
Many retailers are struggling under the announcement of Trump’s chaos, which has increased trade tensions between the world’s two largest economies. Retailers have told CNN that they may have to raise prices at a time when many consumers are already feeling financial pressure and inflation.
Last week, Bloomberg reported That Walmart was trying To meet the effects of US Levies, some of its Chinese shopkeepers to find a solution to its tariff problems for more than 10 % deductions.
According to a Wednesday Post Through the State Broadcaster CCTV’s official social media account, U.A.T., Commerce officials requested meeting with Walmart to “understand the situation”.
The post said, “If true, Walmart’s demand for Chinese suppliers to bear the entire tariff burden is irrational and a fair competition and international trade order disrupts.”
In a possible warning, he added that if US retailers continue their case for exemption, Chinese officials can “take further action”. Although it is not uncommon for suppliers to reduce their prices, this is a tough suggestion at the moment because many people are already running their business with a thin margin.
In a statement to CNN, Walmart said it was aimed at helping people “save money and live a better life.”
“The purpose of our conversation with suppliers is to make our goal a reality for millions of users, and we will continue to work with them to find the best way forward during these uncertainty times,” he said.
Arkansas -based retailers do not just make the source of Chinese products. It has an active and promoted presence there, which was enrolled in China in 1996 and opened its first super store and Seam Club in Shenzhen’s southern megate.
Walmart has more than 100 Chinese cities. In its recent financial year, its net sales in the country Rose by rose 16 % to $ 17 billion compared to the previous year.
