Due to the ongoing trade war between the U.S. and China prices could increase prices for America’s largest retailer.
On Thursday, Walmart says American shoppers could see higher prices on products they import from China, that’s because President Donald Trump increased tariffs on $200 billion worth of Chinese goods.
The move is widely expected to raise prices on thousands of products including clothing, furniture, and electronics. Walmart shares, which have gained 7 percent so far this year, jumped nearly 4 percent to $103.84 in early trade.
There is no reason for the U.S. Consumer to pay the Tariffs, which take effect on China today. This has been proven recently when only 4 points were paid by the U.S., 21 points by China because China subsidizes product to such a large degree. Also, the Tariffs can be…..
— Donald J. Trump (@realDonaldTrump) May 13, 2019
On Wednesday, Macy’s said it will also raise prices on some merchandise because of the trade war with China.
Walmart says they will continue to lower prices despite higher costs and investments in remodeling stores and building out its online infrastructure.