Beijing officials met with Walmart representatives this week to discuss reports that the U.S. retailer has asked Chinese suppliers to lower prices to offset tariffs imposed by the Trump administration.
The meeting, held on March 11, was confirmed by sources cited in a Weibo post from Yuyuantantian, an account affiliated with state-run CCTV.
Last week, Bloomberg News reported that certain Chinese suppliers, including kitchenware and clothing manufacturers, had been asked to reduce prices by as much as 10% per round of tariffs. The report suggested that Walmart was shifting the full cost of U.S. duties onto its suppliers.
U.S. Treasury Secretary Scott Bessent had previously expressed confidence that Chinese manufacturers would bear the cost of tariffs. “I am highly confident that the Chinese manufacturers will eat the tariffs, (and) prices won’t go up,” Bessent told Fox News in an interview last Tuesday.
The discussions between Walmart and Chinese officials come amid rising trade tensions between Washington and Beijing. The extent to which Chinese suppliers will absorb U.S. tariffs remains a key concern for businesses and policymakers on both sides.
