Walmart Concerned Trade War Could Hit These Items Hard
- May 10, 2020
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Walmart says 26 goods it sells could be hit hard as a result of the most recent tariffs President Donald Trump imposed on Chinese goods. A letter sent by the retailer to Trump and the US Trade Representative warning of the impacts of the tariffs was obtained by Business Insider.
According to Business Insider, Walmart was alarmed by the latest round of tariffs because they included consumer goods for the first time.
The latest round of tariffs on $200 billion worth Chinese goods go into effect next week. The tariffs will start at 10 percent and then rise to 25 percent on Jan. 1. Trump has already imposed 25 percent tariffs on $50 billion in Chinese goods. And China has retaliated in kind, hitting American soybeans, among other goods, in a shot at the president’s supporters in the U.S. farm belt.
Here’s the list of items Walmart says would be most affected by the tariffs, per BI:
The Associated Press contributed to this report.
Read more via Business Insider.
Photo by Renee Schiavone/Patch