Walmart has given in and no longer requires Chinese suppliers to cut prices.
On April 29, Hong Kong media South China Morning Post cited sources as saying that the largest US retailer Walmart and other major US retailers have requested some Chinese exporters to resume shipments to the US, with the new tariff costs to be borne by US companies.
The report stated that a large stationery and office supplies exporter in Ningbo, Zhejiang Province received a notice from Walmart on April 28, requesting to resume normal shipments to the US. An unnamed senior executive of the company said that the cost related to the new tariffs will be passed on to American consumers.
"Our long-term partner Walmart informed us that we need to start shipping more products to the US, but we do not have to bear the additional costs brought by the new tariffs," the executive revealed.
The South China Morning Post also reported that at least one other exporter in Jiangsu Province, China, has received similar requests.
Previously, according to Bloomberg reports, Walmart was attempting to pass on the additional tariff burden to Chinese suppliers, asking them to significantly reduce prices.
Currently, the total tariff imposed by the US on Chinese goods is as high as 145%. Since April 12, China has raised the tariff on US goods to 125%.
Original article: https://www.toutiao.com/article/1830730311586908/
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