Walmart warning it'll raise prices as Trump's China tariffs kick in

[kevindavis007]

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 week escalated President Donald Trump's trade war, adding 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.

Read More: https://www.cbsnews.com/news/walmart-warning-it-will-raise-prices-as-new-trump-china-tariffs-kick-in/

[ConstitutionRose]

I can remember when Walmart claimed to carry only American made goods.  There are a lot of other options other than Walmart. I do my big shopping at Costco.  Use a SealAMeal to break things down into meal sized portions and freeze. Shop Aldi and the farmer's market for fresh.  Use my bread machine to make bread. I'll have a garden and do canning when we retire.

I shop online for most stuff for the house. I hate going to the store.

[Sanguine]

Walmart - the storefront for China.

[Absalom]

Walmart - the storefront for China.

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On the mark, as some 40% of their products originate from China.

[catfish1957]

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.

I can see some of those consumer goods going up, but considering the agricultural capabilities of the US, I am wondering why they anticipate raising prices of food.

[InHeavenThereIsNoBeer]

I can see some of those consumer goods going up, but considering the agricultural capabilities of the US, I am wondering why they anticipate raising prices of food.

Higher taxes.  You put tariffs on steel, prices on things made out of steel, like tractors, go up.  Whether you buy steel from the US or China, the price goes up, and therefore so does the price of food.

Also, when you put tariffs on "food" from China, US producers can raise their prices and still remain competitive. 

[goodwithagun]

I HATE going to Walmart, and we used to shop there exclusively. If I need to go there for a big stock up on hair, body, medicine cabinet stuff, I try to go as early as possible Saturday mornings. Otherwise, it’s overrun with white trash welfare types. For food, it’s Kroger, Aldi, and the garden. We are considered a Pittsburgh market, so I get almost all of our organic food on clearance for half price at Kroger, plus I can still use coupons on the clearance products.

[catfish1957]

Higher taxes.  You put tariffs on steel, prices on things made out of steel, like tractors, go up.  Whether you buy steel from the US or China, the price goes up, and therefore so does the price of food.

Also, when you put tariffs on "food" from China, US producers can raise their prices and still remain competitive.

I know those facts, but also realize with those tariffs comes less demand.  Thus dropping prices.  Should close to even out (IMO) as far as food.