Chinese authorities have held discussions with Walmart Inc after the US retail giant demanded that local suppliers cut their prices, reports said yesterday, as the wide-ranging effects of US tariff hikes begin to sink in.
“A source revealed to us that on March 11, the [Chinese] Ministry of Commerce and other relevant departments held talks with Walmart,” reported Yuyuan Tantian (玉淵譚天), a social media account run by state broadcaster China Central Television (CCTV).
“The reason for the talks was Walmart’s demand for significant price reductions from some Chinese suppliers, attempting to shift the burden of US tariffs on China onto Chinese suppliers and consumers,” the report said.
Photo: Reuters
Earlier this month, US President Donald Trump raised the 10 percent blanket tariff he previously imposed on Chinese products to 20 percent, citing Beijing’s continued failure to stem the flow of deadly fentanyl precursors.
China responded by slapping its own tariffs of up to 15 percent on a range of US agricultural goods, including soybeans, chicken and pork.
The CCTV-affiliated account said that it “believes that there are several key points worth noting from this discussion,” including that Walmart’s demand for price cuts “may violate commercial contracts.”
“If Walmart insists on this course of action, the consequences for the company will go beyond just a discussion,” it added.
The ministry did not immediately confirm the talks with Walmart.
Separately, the China Chamber of Commerce for Import and Export of Textiles in a statement called on US retailers to “solve international trade problems fairly and reasonably.”
The body said it had recently received reports from members that large US firms had asked Chinese suppliers to lower their prices.
“We are further verifying the situation. If the situation is true, we will take positive measures to safeguard the legitimate interests of member companies,” the statement said.
It said it had taken note of the recent discussion between Chinese authorities and Walmart, adding that it hopes “companies from both countries can solve issues of common concern through friendly consultation.”
Taiwan’s rapidly aging population is fueling a sharp increase in homes occupied solely by elderly people, a trend that is reshaping the nation’s housing market and social fabric, real-estate brokers said yesterday. About 850,000 residences were occupied by elderly people in the first quarter, including 655,000 that housed only one resident, the Ministry of the Interior said. The figures have nearly doubled from a decade earlier, Great Home Realty Co (大家房屋) said, as people aged 65 and older now make up 20.8 percent of the population. “The so-called silver tsunami represents more than just a demographic shift — it could fundamentally redefine the
Businesses across the global semiconductor supply chain are bracing themselves for disruptions from an escalating trade war, after China imposed curbs on rare earth mineral exports and the US responded with additional tariffs and restrictions on software sales to the Asian nation. China’s restrictions, the most targeted move yet to limit supplies of rare earth materials, represent the first major attempt by Beijing to exercise long-arm jurisdiction over foreign companies to target the semiconductor industry, threatening to stall the chips powering the artificial intelligence (AI) boom. They prompted US President Donald Trump on Friday to announce that he would impose an additional
China Airlines Ltd (CAL, 中華航空) said it expects peak season effects in the fourth quarter to continue to boost demand for passenger flights and cargo services, after reporting its second-highest-ever September sales on Monday. The carrier said it posted NT$15.88 billion (US$517 million) in consolidated sales last month, trailing only September last year’s NT$16.01 billion. Last month, CAL generated NT$8.77 billion from its passenger flights and NT$5.37 billion from cargo services, it said. In the first nine months of this year, the carrier posted NT$154.93 billion in cumulative sales, up 2.62 percent from a year earlier, marking the second-highest level for the January-September
Asian e-commerce giant Shein’s (希音) decision to set up shop in a historic Parisian department store has ruffled feathers in the fashion capital. Anger has been boiling since Shein announced last week that it would open its first permanent physical store next month at BHV Marais, an iconic building that has stood across from Paris City Hall since 1856. The move prompted some French brands to announce they would leave BHV Marais, but the department store had already been losing tenants over late payments. Aime cosmetics line cofounder Mathilde Lacombe, whose brand was among those that decided to leave following
RSS