“Literally no idea what it could’ve been about and actually had a voicemail from Jerry, ‘Hey, I’ve got some good news I want to share with you,’” Prescott said Tuesday. “So I called him back and he was excited. Just a lot of excitement from the both of us.”
for retailers. Walmart says that its consumers have become cautious and selective.are threatening the low-price model at the core of Walmart’s success.
The full impact of tariff costs had been delayed as companies tried to beat the clock by bringing in foreign goods before Trump’s tariffs took effect. Retailers and importers had alsoof shoes, clothes, toys, and other items due to new tariffs, but manyfrom China in the narrow window that opened during the temporary “truce” this week, hoping to avoid sparse shelves this fall.
Yet retailers, already operating on thin margins, say they have no choice but to raise prices to offset higher costs from tariffs. And they are also bracing for higher shipping costs fueled by a surge of companies scrambling to get their goods on ships to the U.S.Rainey told The Associated Press that the retailer did not pause shipments from China as a result of the tariffs like others because it didn’t want to hurt its suppliers and wanted to keep merchandise flowing. It has built in hedges against some tariff threats. Two-thirds of Walmart’s merchandise is sourced in the U.S., with groceries now accounting for roughly 60% of Walmart’s U.S. business.
Still, Walmart isn’t immune.
CEO Doug McMillon told analysts Thursday that Walmart imports general merchandise from dozens of countries. But China, in particular, represents a big chunk of volume in certain categories like electronics and toys.from President Donald Trump said the tariffs on
and coming through the U.S. Postal Service will be lowered to 54%, down from 120%.It also says a per-package flat rate — as an alternative to the value-based tariff — will be kept at $100, rather than being raised to $200 on June 1 as previously decreed. Packages shipped by commercial carriers are subject to the general tariff, which also has been cut.
The new rules go into effect Wednesday.by the Trump administration to drastically lower import taxes on all Chinese goods from 145% to 30% following weekend talks in Switzerland with Chinese officials. China issued a public notice on Tuesday lowering its own tariffs on U.S. goods to 10%, down from 125%.