Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement.
This material may not be published, broadcast, rewritten, or redistributed. ©2025 FOX News Network, LLC. All rights reserved. FAQ – New Privacy Policy
Fitz-Gerald Group CIO Keith Fitz-Gerald breaks down his stock pick, explains why Tesla is underestimated and shares his stock selling strategy.
Walmart, the world’s largest retailer, recently clashed with China after asking Chinese suppliers to absorb the Trump tariffs. Beijing appeared to threaten the company after it apparently asked Chinese suppliers to slash their prices to offset the impact of the tariffs.
Chinese officials met with Walmart, which also operates its warehouse club chain, Sam’s Club, in China, to discuss the retailer’s request that suppliers absorb the tariffs. Walmart reportedly asked some of its Chinese suppliers to reduce their prices by 10%, according to Bloomberg.
The flag of China and a Walmart are shown side by side. (REUTERS/Leonhard Foeger and Joe Buglewicz/Bloomberg via Getty Images)
TRUMP'S 25% TARIFF INCREASE ON ALL STEEL, ALUMINUM IMPORTS TAKES EFFECT, PROMPTING RETALIATION FROM EUROPE
Officials reportedly issued a veiled threat, according to The Wall Street Journal (WSJ). The outlet added that China Central Television wrote on social media that "if Walmart insists" on having suppliers cut prices, "then what awaits Walmart is not just talk."
WSJ also reported that "Walmart representatives said they would work with Chinese suppliers to find ways to avoid damaging the interests of the parties involved," citing people familiar with the matter.
U.S. President Donald Trump attends a bilateral meeting with China’s President Xi Jinping during the G20 leaders’ summit in Osaka, Japan, June 29, 2019. (REUTERS/Kevin Lamarque / Reuters)
MOVEMENT TO BAN CHINESE FARMLAND PURCHASES NEAR MILITARY BASES GAINS STEAM IN THE SENATE
In 2023, Walmart appeared to be reducing its reliance on Chinese suppliers. According to a Reuters estimate, 60% of Walmart’s imports from January to August 2023 came from China, down from 80% in 2018. The big-box retailer, according to the outlet, began importing more goods from India.
In a call with investors last month, Walmart CFO John David Rainey said that the Trump tariffs were "unpredictable," but added that he believed the major retailer "can navigate that very well."
However, he expressed concern about the potential impacts of the Trump tariffs on everyday consumers.
A bakery section at a Walmart store in Secaucus, New Jersey, US, on Tuesday, March 5, 2024. (Gabby Jones/Bloomberg via Getty Images / Getty Images)
CLICK HERE TO GET FOX BUSINESS ON THE GO
In response to fentanyl trafficking into the U.S., President Donald Trump imposed a new 20% tariff on China, in addition to the ones Beijing already faces. The president defended his tariff policies during his address to a joint session of Congress.
"China’s average tariff on our products is twice what we charge them," President Trump said in his address earlier this month.
Walmart did not immediately respond to Fox Business' request for comment.
Get a brief on the top business stories of the week, plus CEO interviews, market updates, tech and money news that matters to you.
We’ve added you to our mailing list.
By clicking subscribe, you agree to the Fox News Privacy Policy and Terms of Use, and agree to receive content and promotional communications from Fox News. You understand that you can opt-out at any time.
Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement.
This material may not be published, broadcast, rewritten, or redistributed. ©2025 FOX News Network, LLC. All rights reserved. FAQ – New Privacy Policy