Here’s why Walmart’s CEO is worried
Walmart is doing its best to keep prices unaffected by the U.S.-China trade war, but if things escalate it could be a different story, according to CNBC.
"We worry about next spring, next summer, next fall what customers will have to pay if tariffs do escalate," said Walmart CEO Doug McMillon in an interview with CNBC.
Walmart is among the retailers that have been sounding the alarm on the back-and-forth tariffs between the United States and China and their impact on pricing. In September, the company sent a letter to U.S. Trade Representative Robert Lighthizer warning that it may have to hike prices, according to CNBC.
On Saturday, President Donald Trump and Chinese President Xi Jinping struck a 90-day truce on any further tariffs.
However, trade fears were renewed after it was revealed that the CFO of Chinese tech firm, Huawei, was arrested in Canada in December. Meng Wanzhou is now facing extradition to the U.S., reportedly for violating U.S. sanctions on Iran.
To read the full CNBC article, click here.