Walmart and other retailers will soon hike prices due to tariffs: Ex-Walmart US CEO - GOOD GOING DRUMPH! (ya fucking idiot)

Walmart and other retailers will soon hike prices due to tariffs: Ex-Walmart US CEO - GOOD GOING DRUMPH! (ya fucking idiot)

9/21/18

  • Walmart will start to hike prices soon in response to the escalating trade war between the U.S. and China, former Walmart U.S. CEO Bill Simon predicts.
  • "So far, Walmart's been able to absorb a lot of the pricing, and the question is how long can they do that," he says.
  • Walmart is among hundreds of companies pushing back against Trump's tariffs.

Walmart will start to hike prices soon in response to the escalating trade war between the U.S. and China, former Walmart U.S. CEO Bill Simon predicted on Friday.

Walmart is one of hundreds of retailers and other businesses who have written letters to U.S. Trade Representative Robert Lighthizer protesting President Donald Trump's tariffs on Chinese goods.

"So far, Walmart's been able to absorb a lot of the pricing, and the question is how long can they do that and whether they actually should," Simon said on CNBC's "Closing Bell."

"As the cost of goods go up in any other way or any other model, the costs are mitigated and they are passed through … You'll see Walmart start to do that soon," he added.

Trump's latest move came earlier this week, when he announced 10 percent tariffs on $200 billion in Chinese goods. The duties will rise to 25 percent on Jan 1.

Beijing retaliated with tariffs on $60 billion worth of American products.

Walmart wrote its letter to Lighthizer two weeks ago, before the latest tariffs were revealed.

Walmart warned it may hike prices on a wide range of products, including food and personal care items.

"As the largest retailer in the United States and a major buyer of U.S. manufactured goods, we are very concerned about the impacts these tariffs would have on our business, our customers, our suppliers and the U.S. economy as a whole," Walmart wrote.

Target was also among those pushing back against the tariffs. In its letter, dated Sept. 6, the retailer said it was "deeply troubled" by the trade war, which it said raises prices on everything from backpacks to playpens.

"The prices have to be passed through eventually, and I think most retailers are starting to make plans to do that," Simon said.

Plus, "for tariffs to have any effect at all the consumer has to feel it and change their buying behaviors so that then retailers and manufacturers would change."

https://www.cnbc.com/2018/09/21/walmart-will-soon-hike-prices-due-t...

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Comment by Chris of the family Masters on September 26, 2018 at 7:05pm

I'd rather cook my food, not nuke it...

Comment by Deep Space on September 26, 2018 at 6:54pm

Actually cooking denatures nutrients FAR more than microwave ovens.

Comment by Central Scrutinizer on September 25, 2018 at 1:44pm

microwave ignorant too....that shit machine radiates food, kills any & all nutritional value, renders food inert and useless...no good for nothing except killing mold spores and heating water ;)

Comment by Doc Vega on September 25, 2018 at 1:39pm

It's obvious you don't know much about economics! We have a 375 billion dollar trade deficit. China who continues to owe the west for billions in patent and trademark violations doesn't know how to pursue fair trade agreements and previous administrations have allowed the US to be the World's bitch of international trade. The US has enormous leverage against the Chicoms! They are already on the brink of losing their ass! Why do you think they're coming to the US to visit President Trump? By the way since you hate Trump so much let me ask you a question. have you given a million dollars to the city of Houston? Have you even given 100 thousand to a black church in Louisiana? Have you donated your entire salary to charitable causes? Trump has. What have you done with your pathetic existence please illuminate us.

Comment by Deep Space on September 24, 2018 at 8:43pm

As far as the phrase "Cheap Chinese crap" goes; it must be understood that China is the world's leading manufacturer. (and they're REALLY good at making stuff). They produce goods to the quality (or lack of) that their contractors specify. They can make high-quality stuff & they can make crap; point being it's NOT up to Chinese manufacturers. It's up to the companies/corporations to decide said quality when they contract China to manufacture their goods. 

Comment by Boris on September 24, 2018 at 8:31pm
Seems to me its poker, we will see who blinks first. I dont know enough about the trade talks, but Ithink change of any kind will hurt. Americans are fiends for cheap Chinese crap, worse than meth heads.
I will continue my life in the lower classes, spending money locally as often as possible, skipping the new one for used wares.

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