Developing | China summons Walmart executives for talks on tariff costs

Officials from China’s Ministry of Commerce and other authorities held discussions with Walmart on Tuesday to address rumours the US retail giant is demanding some of its Chinese suppliers significantly lower their prices.

This, according to Yuyuantantian – the social media account of state broadcaster CCTV – would shift the cost of new US tariffs imposed on Chinese goods to domestic suppliers and consumers.

“Walmart’s unilateral demand on Chinese firms to cut prices could lead to disruptions of supply chains and hurt the interests of firms and consumers from both countries,” the account said.

“If Walmart insists on doing so, then what would happen next would be beyond talks.”

The China Chamber of Commerce for the Import and Export of Textiles, a semi-official trade organization, said in a statement on Wednesday it has received reports from some of its members that large US retailers have asked Chinese suppliers to reduce their prices, and is verifying the claims.

“If the situation is true, we’ll take active measures to safeguard the legitimate interests of member companies,” the chamber said.