Published: Fri, September 21, 2018
People | By Leon Thompson

China plans import tariff cuts as soon as October

China plans import tariff cuts as soon as October

Walmart, the world's largest retailer, has warned President Trump that his escalating trade war with China could force it to raise prices.

Ma's statement comes on the heels of the Trump administration imposing tariffs on $200 billion worth of imports from China and the Chinese reacting with tariffs on about $60 billion worth of USA goods.

The trade war escalated this week as China announced 10 percent tariffs on $60 billion worth of USA imports - retaliation for Trump's tariffs a day earlier.

In July, China cut import tariffs on nearly 1,500 consumer products ranging from cosmetics to home appliances as part of efforts to open up its economy, the world's second biggest.

"Walmart and our suppliers will pay the cost of increased duties, which are simply taxes levied on products at the border", Thorn wrote.

Digging into Spider-Man PS4's many Marvel secrets
Gamers who already pre-ordered the Spider-Man PS4 Special Edition will soon get order cancellation notice from their retails. This shows the lack of planning of Sony India and the inability to launch a game on its pre-scheduled date of release.

The letter comes days after U.S. President Donald Trump slapped tariffs on $200 billion worth of Chinese goods.

Ma told China's Xinhua news agency Wednesday the promise he made - shortly before Trump took office - was based on friendly cooperation between the United States and China and rational growth for China-U.S. trade.

Walmart filed the letter because "we are concerned about the impact on USA suppliers, consumers and manufacturers, as well as families around the world", Randy Hargrove, a spokesman for Walmart, said in an e-mail.

Walmart confirmed it sent the letter and in a statement to Reuters urged the two countries to find solutions.

USA companies have long complained that China can make it hard for them to access its massive market and sometimes doesn't play fair under global trade rules.

Like this: