Walmart warns Trump tariffs may force higher prices

22 Septembre, 2018, 05:20 | Auteur: Auguste Feret
  • Signs with the US flag and Chinese flag are seen outside a store selling foreign goods in Qingdao in China's eastern Shandong province

At a two-day event bringing together Alibaba's investors, Ma told the Chinese news website Xinhua that the promise "was made on the premise of friendly U.S-China partnership and rational trade relations".

Shipping containers are seen stacked at the Dachan Bay Terminals in Shenzhen, Guangdong province, China July 12, 2018.

The news channel says China, which buys far less from the United States than the other way round, is starting to run low on American products to target, "raising speculation about what other measures it could take to hit back".

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"China is facing a host of difficulties and challenges in economic development", stated Li Keqiang, the Premier of the State Council of the People's Republic of China. He did not elaborate. In a letter to Robert Lighthizer, the USA trade representative, Walmart predicted that the immediate impact of the measures would be higher prices for consumers and higher taxes for businesses across America.

The trade war escalated this week as China announced 10 percent tariffs on $60 billion worth of US imports - retaliation for Trump's tariffs a day earlier.

While the direct economic impact of the dispute on China has so far been limited, the trade tensions could rapidly push Chinese exporters to switch away from the USA market, a former chief of China's central bank said on Wednesday.

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