Published: Sat, September 22, 2018
Finance | By Loren Pratt

Walmart urges Trump administration to roll back new tariffs on Chinese imports

Walmart urges Trump administration to roll back new tariffs on Chinese imports

Scores of products, from bicycles and baseball gloves to furniture, air conditioners, vehicle seats and pet food, will go up in price because of the tariffs, the chains warned the Trump administration.

Mr. Trump then vowed to further ratchet up pressure on China by kicking in tariffs on another $257 billion of Chinese products. It joins a growing list of large, consumer-focused companies that have voiced fears over the implications of a dispute between the...

The US administration is expected to raise to rate to 25 percent by the end of 2018.

The action by the Chinese Ministry of Commerce places tariffs on 5,207 USA product categories beginning September 24, the same day the US tariffs on Chinese goods begin.

"As the largest retailer in the United States and a major buyer of USA manufactured goods, we are very concerned about the impacts these tariffs would have on our business, our customers, our suppliers and the USA economy as a whole", Walmart wrote in its letter to Lighthizer.

He added that Trump's latest round of tariffs on more than $500 billion (£382 billion) worth of Chinese goods had "caught Beijing off guard".

CNN Money was first to report the news.

Still, the added tariffs will hit consumers, the chains said.

When Trump didn't heed the retailers' warning, it left the chains disappointed, a spokesman for a retail trade group said Friday.

"It's tariffs on a scale and depth that is previously inconceivable in U.S. history".

Of 298,000 metric tons of styrene-butadiene rubber imported by China in 2017, U.S. SBR accounted for about 6.6 percent of the total, according to Commerce.

About two-thirds of what Walmart spends on products sold in USA stores are sourced, assembled or grown in the U.S., the company said in its letter.

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