US retail chain Walmart has called on Chinese suppliers to reduce their prices by up to 10% to help offset the effects of tariffs imposed by US President Donald Trump, Bloomberg News reported Thursday, citing people familiar with the matter.
Some suppliers have said yes despite thin margins, the report said. Others have said any price reduction beyond 2% is equivalent to a loss, the report said.
Others have seen their upstream vendors refuse cuts of more than 3%, forcing manufacturers to source their materials from Vietnam or other countries, Bloomberg said.
Walmart's move could be an indicator Trump's tariffs against China could move global supply chains and exert pressure on US consumers, who are also facing high prices, the report said.
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