Published: Sat, September 22, 2018
Business | By Tara Barton

Walmart warns Trump tariffs may force price hikes

Walmart warns Trump tariffs may force price hikes

Earlier this week, Trump escalated his trade war with China by imposing 10 percent tariffs on about $200 billion worth of Chinese imports.

That tariff is expected to rise to 25 percent by the end of the year, and while you may not feel the effects right now, you might eventually, and the stores you shop at could too.

Money reports that Walmart sent a letter to Trade Representative Robert Lighthizer, saying the tariffs would hurt its customers, its suppliers and the US economy. In the letter, Walmart listed a couple dozen items that could be affected by the tariffs.

Walmart, the world's largest retailer, in its letter said the tariff would impact prices of everything from food products to beverages and personal care items. Jack Ma, the founder of Chinese online retail giant Alibaba, pledged his company would bring a million jobs to the United States by 2022.

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Some shoppers in Harrisonburg are bracing for the tariffs' impacts. "I think they're gonna have a very hard effect on a lot of people".

China's new round of tariffs were made public shortly after President Trump made his September 17 decision.

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.

"It's going to last long, it's going to be a mess", he said.

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