Walmart Raises Prices amid Trade War, Should Focus on American Made
Walmart should use the trade war as an opportunity to rely on local factories and manufacturers. | Source: Shutterstock
By CCN: The trade war between the United States and China is on, and some of the country’s biggest retailers are starting to feel the burn. The latest victim of Trump’s tariffs is Walmart, which says customers can expect price increases on some of its stores’ most prominent items thanks to tax hikes on products imported from China. The retailer reportedly stated that it would do everything in its power to “keep prices low,” but customers should expect to pay more over the coming weeks.
Without China in the Picture, Americans Can Expect to Pay More
While the statement doesn’t mention which specific items will go up, executives are reportedly working with product suppliers to try and spread costs over multiple items so customers experience less financial strain on certain products.
Walmart Should Focus on American-Made Products
Despite its size, Walmart is a company that stands to be less affected by these tariffs than other retailers given that most of its business comes from grocery-related sales. Most of the fresh produce and other food items offered by Walmart stores are not imported and are likely to remain unaffected.
Meanwhile, big-box retailers like Walmart should look at a situation like this as an opportunity to change and potentially focus more on American-made products. Walmart, unfortunately, has been slow to react. The company says that approximately 26% of its items will still be brought in from China-based factories and manufacturers. Thus, more than one-quarter of the retailer’s overall goods stand to be priced higher thanks to the tariffs.