Initially reported by CNN Money, the massive Walmart corporation is beginning to weigh in on the US’ protectionist trade rhetoric, delivering a caution-laced letter to the US Trade Representative Robert Lighthizer.
Key highlights
Walmart issued a stern warning letter to Lighthizer this week, raising concerns that the mega-corporation may be forced to begin raising prices across the board, impacting both consumers and other US businesses, including manufacturers. The letter quickly follows US President Donald Trump’s announcement on Monday that the US would be imposing a 10% tariff on another $200 billion USD worth of Chinese goods.
“The immediate impact will be to raise prices on consumers and tax American business and manufacturers,” Walmart said, according to the CNN Money report. – Reuters
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