Walmart squeezes suppliers as tariffs weigh

The Ministry of Commerce and other relevant authorities have met with Walmart Inc to discuss the US retailer's recent plea for price cuts from Chinese suppliers, a move which underscores growing anxiety by US corporations over Washington's standoff with Beijing over trade.

The parties met on Tuesday after Walmart contacted some of its Chinese suppliers to ask for significant price reductions in a bid to offset the impact of US tariff hikes that President Donald Trump's new administration has imposed on Chinese goods since taking office in January.

To cushion the impact on its business, the retailer wanted suppliers to cut some of their prices by up to 10 percent per each round of additional tariffs that the US government imposed on Chinese goods.