Walmart warns Trump tariffs may force higher prices

Walmart warns Trump tariffs may force higher prices

The White House this week escalated President Donald Trump's trade war, adding tariffs of 10 percent on another $200 billion on imported Chinese goods effective September 24, ahead of the busy holiday shopping season.

"We're going to go $200 billion at 25 percent on Chinese made goods".

But with the trade war between China and the United States intensifying, "Beijing has just taken one potential weapon off the table", reports CNN Money. We have rebuilt China. It's in all their literature.

Ma said trade tensions between the United States and China could last for decades and would be "a mess" for all parties involved.

Saying the U.S. has "more bullets", Trump cautioned the world's second-largest economy to think twice before engaging in a trade war with the largest.

None of the major retailers disclosed by how much prices will increase, but if the washing and drying machine industry is any indication of what's to come, consumers can expect to spend up to 20 percent more on many common products, retail experts say.

"We are cracking down on the unfair trade practices of China..."

Continue reading this story in the Wall Street Journal.

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"The private equity made a fortune".

President Trump's base better get ready for some sticker shock come Monday.

Mr Bannon said Trump would "never back down in the trade war with China", even though the Republican firebrand knew the policy would face "massive resistance domestically and internationally".

On Tuesday, China hit back, saying it would levy tariffs on US$60 billion worth of U.S. goods effective from Sept 24.

"So we charged 25 per cent on US$50 billion worth of merchandise tariffs coming in".

"It's disappointing that, despite the voices of those impacted, the administration continues to advance harmful tariff policies that threaten to weaken the USA economy", Matthew Shay, the National Retail Federation's chief executive, said in a statement on Friday.

"They never envisioned that somebody would actually do this".

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