Chinese authorities summoned Walmart executives amid reports that the retailer pressured Chinese suppliers to cut prices to offset U.S. tariffs, according to the Wall Street Journal.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Chinese authorities summoned Walmart executives amid reports that a retailer pressured Chinese
00:06suppliers to cut prices to offset U.S. tariffs, according to the Wall Street Journal.
00:10The move follows President Trump's decision to add a 20 percent tariff on Chinese imports,
00:14putting U.S. retailers in a bind between higher consumer prices and supplier costs. Beijing warned
00:20Walmart that passing tariff costs on to suppliers could breach contracts and lead to legal consequences.
00:26Walmart reaffirmed its commitment to Chinese supply chains
00:29and pledged to collaborate with suppliers.