Walmart: Donald Trump’s tariffs on Chinese goods ‘will lead to increased prices’
The U.S.′ largest retailer, Walmart, said Thursday President Trump’s newest tariffs on imports from China could lead to higher prices in their stores.
“We’re monitoring the tariff discussions and are hopeful that an agreement can be reached,” Chief Financial Officer Brett Biggs told reporters, The Associated Press reported. “Increased tariffs will lead to increased prices for our customers.”
Walmart declined to comment on what products would receive a price increase or how big the price jump would be.
Mr. Trump raised Chinese tariffs from 10% to 25% on $200 billion worth of Chinese imports, escalating a trade war that appeared to be subsiding as negotiators worked toward a deal.
China retaliated against Mr. Trump’s tariffs and will be raising tariffs to 25 percent on $60 billion worth of U.S. goods.
S.A. Miller and Gabriella Muoz contributed to this article.