China's Ministry of Commerce and other departments summoned U.S. retail giant Walmart on Tuesday for requiring some of its Chinese suppliers to slash prices, Yuyuantantian, a new media arm of China Media Group (CMG), reported on Wednesday.
U.S. media outlets reported that Walmart has requested significant price reductions from some of its Chinese suppliers, particularly in the kitchenware and clothing categories.
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China summons Walmart for talks on costs from U.S. tariffs
China summons Walmart for talks on costs from U.S. tariffs
China summons Walmart for talks on costs from U.S. tariffs
China summons Walmart for talks on costs from U.S. tariffs
The Yuyuantantian report said the reason for the summoning is that Walmart is attempting to shift the burden of the U.S. tariffs on China to Chinese suppliers and consumers.
It said Walmart's move could cause supply chain disruptions, harming both Chinese and the U.S. businesses as well as American consumers.
China has been a key driver of Walmart's global growth. In the last fiscal year, the American retail giant's same-store quarterly sales growth rates were 12.5 percent, 13.8 percent, 15 percent, and 23.1 percent, year over year, far outpacing its growth in the U.S. market, data showed.
China summons Walmart for talks on costs from U.S. tariffs
China summons Walmart for talks on costs from U.S. tariffs
China summons Walmart for talks on costs from U.S. tariffs
China summons Walmart for talks on costs from U.S. tariffs
