/——-/ “this all began when you placed a 25% tariff on Chinese goods, and the Chinese retaliated”Walmart, America's largest retailer, said Thursday it will raise prices on some products as a result of the Trump administration's tariffs on Chinese goods."We're going to continue to do everything we can to keep prices low. That's who we are. However, increased tariffs will lead to increased prices, we believe, for our customers." Walmart chief financial officer Brett Biggs told reporters.
Walmart has less exposure to China than many other retailers because more than half of its sales come from groceries.
But Walmart still imports 26% of its merchandise from China. Target imports 34% of its products from China. Other companies, including sporting goods, auto parts and furniture sellers, have even greater exposure to China.
Retailers depend heavily on China in their supply chain. China accounted for about 41% of all apparel, 72% of all footwear, and 84% of all travel goods imported into the United States in 2017.
Trump has started a formal process to put new tariffs in place on the remaining exports coming from China that aren't already taxed.
Can you say inflation? How about less demand and more unemployment? Can you say recession?
On top of losses last week and more this week the Dow lost a 100 today.
Can you say loss of retirement savings for millions of Americans, including Trump's fans? But they still love Trump, probably because most of them have no idea what is going on. They are not fans of reality.
What about the American consumer? When do they get some relief? No one knows, not even Trump. Gee, thanks, Mr. President.
The Times reports, "Trump on Thursday unveiled a $16 billion bailout for farmers hurt by his trade war with Beijing, signaling a protracted fight ahead that is already prompting some American companies to shift business away from China.
"Trump, flanked by farmers and ranchers in cowboy hats during remarks at the White House, said China had “taken advantage” of the United States for far too long and vowed to protect an industry that has been “used as a vehicle” by Beijing to hurt America’s economy."
No, Mr. President, this all began when you placed a 25% tariff on Chinese goods, and the Chinese retaliated. I guess Trump forgot that part.
Trump has his own reality. It is different from the rest of us. “Farmers have been attacked by China,” Trump said, adding that if the United States is in a trade war, “we’re winning it big.”
Really, Mr President? You have the balls to say that to a room full of farmers. They don't feel like they are winning. That is why you are giving them 16 billion. Did you forget that part, too?
The irony is, hardworking farmers don't want welfare. They want a level playing field where they can grow and sell their products and eke out a living. Trump is denying them that privilege, not China.
Another glaring example of a misinformed libtard moonbat. Hey dummy, China had high tariffs on US goods for decades before Trump was president. It was Trump who retaliated. Geeeeze.