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China considers lowering tariffs as its economy faces difficulties

  • by Xavier Trudeau
  • in Financer
  • — Sep 22, 2018
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His comments appear to address claims that China is using its currency as a tool in the trade war with the United States and come after the Trump administration announced it would impose new tariffs on $200bn worth of Chinese goods.

That tariff is expected to rise to 25 percent by the end of the year, and while you may not feel the effects right now, you might eventually, and the stores you shop at could too.

Walmart Inc (WMT.N) said that it may hike prices of products if the Trump administration imposes a tariff on Chinese imports, according to a letter the company wrote to U.S. Trade Representative Robert Lighthizer two weeks ago and seen by Reuters on Thursday. In the letter, Walmart listed a couple dozen items that could be affected by the tariffs. Some notable items were electronic cords, pet leashes and school supplies.

Walmart, the world's largest retailer, has warned President Trump that his escalating trade war with China could force it to raise prices. "They also know that I am the one that knows how to stop it".

  • Going off-road in the search for dark skies

China's new round of tariffs were made public shortly after President Trump made his September 17 decision.

At a two-day event bringing together Alibaba's investors, Ma told the Chinese news website Xinhua that the promise "was made on the premise of friendly U.S-China partnership and rational trade relations".

Ma said trade tensions between the United States and China could last for decades and would be "a mess" for all parties involved.

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