Walmart may raise prices due to China tariffs
Walmart, the biggest U.S. retailer, warned the Trump administration the newest round of tariffs on imported Chinese goods could prompt it to raise prices on products from shampoo to bicycles to food.
"This round of tariffs could impact a significant number of common consumer items that are not easily replaceable," Sarah F. Thorn, a senior director for global government affairs at Walmart, wrote in a Sept. 6 letter to the U.S. Trade Representative. "The immediate impact will be to raise prices on consumers and tax American business and manufacturers. "
The White House this weekadding tariffs of 10 percent on another $200 billion on imported Chinese goods effective Sept. 24, ahead of the busy holiday shopping season. That penalty will rise to 25 percent beginning Jan. 1.
That means companies like Walmart will start paying a tax on goods they import from China, raising their costs and potentially cutting profit unless they pass the cost increases to their millions of shoppers.
Walmart, in the letter, listed a wide swath of goods that may soon cost consumers more: fish, vegetables, nuts, grains, flours; personal care products from makeup to shampoo; luggage and handbags; bicycles and motorcycles; leather apparel hats, hand tools and some furniture; lighting and mirrors including Christmas lights; monitors; paper tablecloths, napkins, plates and cups, toilet and tissue paper; dog leashes, home air conditioners, refrigerators, vacuum cleaners and calculators.
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