It’s worse than that. Trump doing stupid stunts to browbeat US companies & blame/price control to cover up his tariff inflation… is anti-business! Also keeps foreign INVESTORS away - except the ones who promise a $1.4T illusion in exchange for favors that likely make China blush. https://x.com/SamanthaLaDuc/status/1923945630222655672
‘estimates based on overall U.S. imports from China suggest that Walmart's imports from China could be around $49 billion per year’ Add 30% tariff it’s 15bn In 2024, Walmart's net income was $15 billion I have no other questions…. https://x.com/SamanthaLaDuc/status/1923945630222655672
I fact checked : this quoted $49B per annum import from China is 2013 stats.
In 2023, around 60% of Walmart's import came from China and in 2013, its China imports ($49B) represented about 11.2% of total US good imports from China.
So with Walmart's plan to raise prices, it is a big deal because 63.3% of Americans choose Walmart as their top choice for grocery shopping. There is no escaping the 30% tariff hike on Chinese imports affecting everyday American pockets! And for many Americans living on the edge, a 30% price hike could be the difference between having a single meal a day to having to resort to rationing for the family.
There is also prospect that as imported cheaper Chinese goods rise in prices due to tariffs, local American producers would seize the opportunity to raise their own price to maintain the same price gap, so overall it gets translated into higher prices from all sources.
Truth be told, Trump's tariffs are not a hit on Chinese exporters, they are a massive hit on the most vulnerable segment of the American population. It is essentially a cruel wealth transfer from those most vulnerable (who can only afford the cheapest products, and the cheapest comes from China) to the wealthy and high income earners who stand to gain most from the Beautiful Tax Cut Bill that is hoped to be partially funded by the tariff revenues.
