President Donald Trump is once again wielding his favorite trade weapon: tariffs. But this time, he’s setting his sights on two very different American companies — tech giant Apple and toy maker Mattel — threatening hefty tariffs over comments made by their CEOs.

The Tariff Threats: Apple and Mattel in the Crosshairs

In recent weeks, Trump publicly warned that Apple could face a 25% tariff on imported iPhones if the company doesn’t manufacture them in the United States instead of India. On social media, Trump made it clear: “If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S.”

He later softened this by saying any such tariffs would apply to all imported smartphones — including competitors like Samsung — to keep things “fair.” Still, smartphones have largely been exempt from Trump’s previous China tariffs, so this move would mark a shift.

Meanwhile, Mattel caught Trump’s ire earlier this month when CEO Ynon Kreiz mentioned that tariffs might force the company to raise toy prices and that shifting production back to the U.S. would be too costly. In response, Trump threatened a staggering 100% tariff on all Mattel toy imports, saying: “He won’t sell one toy in the United States… I wouldn’t want to have him as an executive too long.”

Legal Hurdles and the Limits of Presidential Power

Despite the grandiose threats, experts say Trump’s ability to single out companies for tariffs is legally shaky. A recent court ruling questioned whether the president can unilaterally impose tariffs without Congress’s approval — though that decision is currently on hold after an appeals court stepped in.

Trade attorney Lizbeth Levinson explains, “He doesn’t have the constitutional power to name names. Tariffs need to apply to an entire class of products, not just one company.” But she also adds, “Trump’s style has always been to act first and sort out the details later.”

What’s Really Going On?

Behind the scenes, the tariff threats may be less about actually slapping taxes on imports and more about squeezing these companies for concessions. The goal? To push Apple, Mattel, and others toward promises of more U.S.-based investment or to control how companies talk about price increases tied to tariffs.

Clark Packard, a trade expert at the Cato Institute, points out that imposing steep tariffs on iPhones would likely backfire politically. “The American public would be outraged if their iPhones got a lot more expensive,” he says. “So I don’t see specific action against Apple as likely.”

For Mattel, the national security rationale behind tariffs doesn’t apply — unlike smartphones, which might be scrutinized under Section 232 of trade law (used to justify tariffs for national security reasons). That makes imposing a 100% tariff on toys even less probable.

Trump’s Tariffs as Negotiation Tools

Levinson suspects the real aim isn’t to shut down imports entirely but to force companies to “blink.” If Mattel, for example, agrees to move even a small fraction of its toy production to the U.S., Trump can claim victory. The same applies to Apple and the tech sector.

“I’ve had clients calling me, panicked about these threats,” Levinson says. “But honestly, many of these tariffs were never going to go into effect.”

The Takeaway

Trump’s tariff threats against Apple and Mattel highlight his ongoing strategy of using tariffs as leverage rather than as actual trade policy. While the legal and practical obstacles to imposing these specific tariffs are significant, the president is clearly willing to push the envelope to try to force companies to follow his vision for American manufacturing.

Whether these threats translate into real economic impact or just another round of political posturing remains to be seen. But for now, Apple fans and toy lovers alike can breathe a little easier — the tariffs, for now, remain more bark than bite.

Source: CNN – Trump is threatening to impose tariffs on two American companies

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In a surprise turn, former President Donald Trump announced on Sunday that he’s delaying a planned 50% tariff on European Union imports until July 9 — just days after doubling down on tough trade talk.

Speaking to reporters at Morristown Municipal Airport in New Jersey, Trump said the delay came after what he described as a “very nice call” with European Commission President Ursula von der Leyen.

“She wants to get down to serious negotiation,” Trump said. “She asked if we could move the date from June 1 to July 9 — and I agreed. We’ll get together rapidly and see if we can work something out.”

This is the latest example of Trump walking back a tariff threat after initially rattling markets. Just Friday, he insisted the EU tariffs were set in stone and would take effect June 1. Those tariffs would have followed a previously announced — and also delayed — 20% reciprocal tariff from April.

Shortly after his remarks, Trump posted on Truth Social, confirming that trade talks would “begin rapidly.”

Von der Leyen echoed the sentiment in a post on X, calling it a “good call” and noting that the EU is ready to push ahead with negotiations. “To reach a good deal, we would need the time until July 9,” she said. “Europe is ready to advance talks swiftly and decisively.”

Market Reaction

News of the delay helped lift Asian stock markets modestly on Monday. Japan’s Nikkei 225 gained as much as 0.8%, South Korea’s KOSPI rose 0.9%, and China’s Shanghai Composite edged up 0.3%. Other indexes, including Taiwan’s TAIEX and Australia’s S&P/ASX 200, remained mostly flat, while Hong Kong’s Hang Seng slipped 0.3%.

Behind the Tariff Talk

Trump has repeatedly criticized what he calls “non-monetary trade barriers” and often targets countries or blocs that run trade surpluses with the U.S. In 2024, the U.S. reported a $236 billion trade deficit with the EU, according to Commerce Department figures.

He’s also been vocal about reshaping the focus of U.S. manufacturing. On Sunday, Trump backed recent comments from Treasury Secretary Scott Bessent, suggesting America doesn’t need to bring back industries like textiles.

“We’re not looking to make sneakers and T-shirts,” Trump said. “We want to make military equipment. We want to do the ‘AI thing’ with computers.”

Source: CNN – Trump delays 50% EU tariffs until July 9

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President Donald Trump shook up the trade world Friday morning by threatening a 50% tariff on goods imported from the European Union. His warning came after what he described as stalled trade negotiations and longstanding grievances with EU trade policies.

In a post on his social media platform Truth Social, Trump slammed the EU for what he calls unfair practices: “Powerful trade barriers, VAT taxes, corporate penalties, monetary manipulations, and unjust lawsuits against American companies” have contributed to a massive trade deficit with the U.S.—more than $250 billion annually, a figure Trump calls “totally unacceptable.”

“Our discussions with them are going nowhere,” he wrote bluntly. “Therefore, I am recommending a straight 50% tariff on the European Union, starting June 1, 2025.”

Immediate Reactions and Market Impact

The European Commission has yet to issue an official response. A spokesperson, Olof Gill, said he was awaiting a call between Maroš Šefčovič, the EU’s Trade Commissioner, and U.S. Trade Representative Jamieson Greer—a discussion Reuters reports is scheduled for Friday morning.

Meanwhile, Treasury Secretary Scott Bessent weighed in during a Fox News interview shortly after Trump’s post. Bessent criticized the EU’s recent proposals, saying they have not matched the quality of deals from other key U.S. partners. “I hope this lights a fire under the EU,” he added, noting the bloc faces a “collective action problem” that complicates negotiations.

Markets reacted swiftly to the news. European stock indexes took a hit: Germany’s DAX fell 2.4%, France’s CAC dropped 2.2%, and the STOXX 600 benchmark declined 1.7%. London’s FTSE slipped 1%. U.S. stocks opened lower too, with the Dow down by 480 points, or 1.15%.

How Does This Tariff Compare?

The 50% tariff Trump is proposing would be more than double the 20% tariff briefly imposed in April before a pause allowed more talks. That pause is set to expire on July 9.

Since then, the only major trade deal the U.S. has finalized has been with the United Kingdom. Treasury Secretary Bessent declined to name which countries might be next but said talks are “far along with India,” and several Asian nations have offered “very good deals.” He emphasized that most of America’s key trading partners are negotiating in good faith—“except the EU.”

What’s Fueling Trump’s Anger with the EU?

Trump has frequently targeted what he calls “non-monetary trade barriers”—policies that don’t directly involve currency but make U.S. exports less competitive. Among these, he points to the EU’s Value-Added Taxes (VATs) and Digital Service Taxes (DSTs).

• VATs are consumption taxes added to goods and services in the EU. While exports from the EU to the U.S. are exempted from VAT, American exports to Europe face this tax, making U.S. products more expensive there.
• DSTs target the revenue of large digital companies operating in the EU, including giants like Meta, Apple, Google, Amazon, and Microsoft. This tax applies to gross revenues from online services—even unprofitable operations—hitting U.S. tech firms disproportionately.

According to a 2024 Congressional Research Service report, these taxes put American tech companies at a disadvantage compared to their European competitors.

Is a Trade War Escalating?

Trump’s aggressive tariff threat comes hot on the heels of another trade-related warning, this time targeting Apple. He suggested a 25% tariff on iPhones if the company continues producing them overseas rather than in the U.S.

Despite recent meetings between Trump, Apple CEO Tim Cook, and U.S. officials—including discussions during Trump’s Middle East trip and conversations with Treasury Secretary Bessent—the president remains frustrated. Cook has stated Apple plans to shift iPhone production from China to India to reduce tariff costs, but Trump insists the phones should be made on American soil.

What’s Next?

With the July 9 deadline looming for the paused EU tariffs and these sharp warnings from the White House, the next few weeks could prove critical for U.S.-EU trade relations. The outcome may have broad consequences for global markets and companies caught in the middle.

Stay tuned as this story develops.

Source: CNN – Trump threatens a 50% tariff on the EU

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As Trump has raised import taxes, he insists that foreign producers and big retailers like Walmart should bear the burden, not consumers. However, many economists remain skeptical, warning that these tariffs are fueling inflation and will ultimately drive up prices for everyday goods. Walmart itself recently warned that items ranging from bananas to children’s car seats could see significant price hikes.

In a pointed post on his social media platform, Truth Social, Trump called out Walmart, which employs 1.6 million people across the U.S., for trying to shift blame onto tariffs for raising prices.

“Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain,” Trump wrote. “Walmart made BILLIONS OF DOLLARS last year, far more than expected. Between Walmart and China they should, as is said, ‘EAT THE TARIFFS,’ and not charge valued customers ANYTHING. I’ll be watching, and so will your customers!!!”

This message highlights the difficult balancing act many American companies face under Trump’s trade policies — caught between rising costs, worried customers, and the president’s public rebukes. Trump has issued similar warnings to U.S. automakers, demanding they avoid passing tariff-related costs onto consumers despite higher production expenses.

The tariffs have cast a shadow over an otherwise steady U.S. economy. On Friday, the University of Michigan’s consumer sentiment survey hit its second-lowest level on record, with about 75% of participants spontaneously mentioning tariffs as a key concern driving expectations of rising inflation.

Walmart CEO Doug McMillon met with Trump in April to discuss the tariffs, but the administration has pressed ahead with its policies. Meanwhile, companies like Amazon and Apple have also faced challenges from supply chain disruptions tied to the tariffs.

John David Rainey, Walmart’s chief financial officer, recently warned that a $350 car seat imported from China could soon cost shoppers an additional $100 — a 29% increase.

“We’re wired to keep prices low, but there’s a limit to what we can bear, or any retailer for that matter,” Rainey told The Associated Press after Walmart reported strong first-quarter sales.

In a recent move, the administration reduced a steep 145% tariff on some Chinese goods to 30% for 90 days. But Trump has also slapped tariffs as high as 25% on imports from Mexico and Canada over immigration and drug trafficking concerns, straining relations with the country’s two biggest trading partners.

Currently, most countries face a baseline 10% tariff, with Trump promising new trade deals in the coming weeks. He intends to keep tariffs as a steady revenue source, including a deal with the United Kingdom that would largely maintain the 10% rate.

Beyond goods, tariffs also target autos, steel, aluminum, and potentially pharmaceutical drugs, creating uncertainty across the economy. Federal Reserve Chair Jerome Powell has kept interest rates steady, citing the unpredictable impact of tariffs on growth and prices.

On Saturday, Trump once again urged Powell to cut rates — a move that could further boost inflation — while insisting that inflation pressures are fading.

“Too Late Powell, a man legendary for being Too Late, will probably blow it again – But who knows???” Trump posted on Truth Social.

Source: AP News – Trump warns Walmart: Don’t raise prices due to my tariffs but do eat the costs from those taxes

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This week, U.S. President Donald Trump’s top trade officials will meet with their Chinese counterparts in Geneva to discuss the future of the ongoing trade war between the two largest economies in the world. The stakes couldn’t be higher: the global economy’s future hinges on the success of these discussions.

A Temporary De-Escalation, Not a Trade Deal

While the trade talks mark the first in-person meeting between U.S. and Chinese officials since the tariff battle intensified in March, expectations for an immediate breakthrough are low. Treasury Secretary Scott Bessent indicated that these talks are not about finalizing a trade deal, but rather about de-escalating the situation before more damage is done.

Trade between the two countries has already taken a hit, with tariffs reaching record levels. The U.S. has imposed a 145% tariff on many Chinese imports, while China has retaliated with a 125% tariff on American goods. As the first wave of tariff-free shipments is unloaded, businesses now face a tough decision: absorb the new costs or stop selling altogether. Consumers will soon feel the impact, with prices expected to rise and potential shortages on the horizon.

Economic Pain on Both Sides

The tariffs are taking a toll on both economies. In the U.S., the first quarter saw a rare contraction, marking its first decline in three years. Businesses scrambled to stockpile goods ahead of the tariffs, contributing to the slowdown. Meanwhile, China’s factory activity shrank sharply in April, with its government likely to introduce additional stimulus measures to combat the downturn.

Though the U.S.-China trade conflict is the most aggressive, Trump has extended tariffs to most other countries as well, including a 10% tariff on nearly all imports and 25% tariffs on steel, aluminum, autos, and goods from Mexico and Canada. This broad trade disruption has put the global economy on edge, with economists from the IMF, OECD, and World Bank warning of serious consequences, including slower growth and higher inflation worldwide. The U.S. itself is expected to suffer significant economic setbacks, with some analysts predicting a recession.

Signs of Thawing Tensions

Despite the tensions, both sides are acknowledging the unsustainable nature of the current situation. U.S. Trade Representative Jamieson Greer and Bessent are set to meet with Chinese officials in Switzerland this week, marking a significant step toward de-escalation. Bessent, however, managed expectations by emphasizing that this is only the first phase of the process.

“My sense is that this will be about de-escalation, not about the big trade deal,” Bessent told Fox News. “We’ve got to de-escalate before we can move forward.”

In recent weeks, both countries have softened their rhetoric. President Trump hinted that he might lower tariffs on China “at some point,” while China has signaled a willingness to consider U.S. proposals to begin trade talks.

China’s Economic Strain

China, for its part, has been standing firm in public, but the economic strain is beginning to show. To boost liquidity and stimulate growth, the People’s Bank of China recently cut the reserve requirement ratio for banks and reduced interest rates on key financial instruments. Wall Street responded positively to these moves, with markets seeing a boost in the days leading up to the talks.

Trade Between the Two Countries Near a Standstill

The economic toll of the trade war is becoming increasingly apparent. April saw a dramatic 60% drop in cargo shipments from China to the U.S., according to logistics firm Flexport. JPMorgan estimates that Chinese imports into the U.S. could drop as much as 80% in the second half of the year.

As Flexport CEO Ryan Petersen pointed out, “It’s only a matter of time before they sell through existing inventory, and then you’ll see shortages. And that’s when you see price hikes.”

At the Port of Los Angeles, expected shipments have already been canceled, with 20% fewer vessels arriving this month compared to last year. “This week, we’re down about 35% compared to the same time last year,” said Gene Seroka, the port’s executive director.

No Deal Yet, But Hope for Progress

Despite the growing economic crisis, both nations remain far from a comprehensive deal. Each side is holding out for major concessions from the other, and the road to normalizing trade relations with China is expected to take years, according to Bessent.

But even without a formal agreement, the face-to-face talks in Switzerland offer a glimmer of hope. With both countries suffering significant self-inflicted damage, the need for de-escalation is becoming undeniable.

Trump himself acknowledged the need for change: “At some point, I’m going to lower [the tariffs] because otherwise you could never do business with them,” he said. “They want to do business very much… their economy is collapsing.”

As the global economy teeters, the outcome of this week’s talks will set the stage for the next chapter in the U.S.-China trade saga—and could be the first step toward a much-needed resolution.

source: CNN – Trump’s team is finally meeting with China. The future of the global economy is riding on its success

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President Donald Trump’s latest bid to ease trade tensions with China has sparked more skepticism than optimism—especially inside China, where officials brushed off his remarks and netizens mocked him as “chickening out.”

Speaking from the Oval Office, Trump stunned markets on Tuesday by promising a sharp reduction in tariffs on Chinese goods and a more conciliatory approach at the negotiating table. He even pledged to avoid thorny topics like the origins of Covid-19. His remarks briefly cheered Wall Street—but didn’t move Beijing.

China’s Commerce Ministry quickly dismissed Trump’s olive branch. Spokesperson He Yadong insisted that the U.S. must take full responsibility for starting the trade war—and must now fully remove its tariffs if it’s serious about peace.

“Whoever tied the bell must untie it,” He said. “The U.S. needs to cancel all unilateral tariffs and engage in equal dialogue.”

Meanwhile, China’s Foreign Ministry denied Trump’s claim that both nations are in regular talks.

“These are all fake news,” said spokesperson Guo Jiakun, bluntly rejecting the notion that negotiations were underway.

Chinese academics advising the government view Trump’s tone shift as a response to domestic pressure and market turmoil—not a genuine peace offering. According to Wang Yiwei of Renmin University, Trump appears “flustered” and inconsistent, making it hard for Beijing to trust him.

“He says one thing today, another tomorrow,” Wang said. “He’s trying to bait China into talks, but it’s not working.”

Wu Xinbo, a U.S. policy expert at Fudan University, echoed that sentiment. “China is in no rush,” he said. “We’re prepared to wait—and negotiate on our terms.”

Trump’s apparent pivot came just after a private meeting with CEOs from major U.S. retailers—Walmart, Target, Home Depot, and Lowe’s—who expressed concern over the economic fallout of the tariffs. The pressure is growing as fears of a global recession mount.

Though Trump hasn’t provided specifics, a White House official told the Wall Street Journal that current tariffs—set as high as 145%—could be slashed to between 50% and 65%.

But Wang, currently in Washington, said that’s not nearly enough. “If you want to talk seriously with China, cancel all the tariffs—then we can talk.”

In China, Trump’s remarks were met with ridicule. On the social media platform Weibo, the hashtag “Trump chickened out” racked up over 150 million views. One user wrote, “If they won’t even cancel all the tariffs, why even bother negotiating?”

Despite the government’s public defiance, some Chinese experts are quietly expressing concerns.

An anonymous foreign policy expert told CNN that the sky-high tariffs are “torturing” China’s slowing economy and could lead to social unrest and instability.

“Authorities aren’t telling the truth,” he said. “Our foreign trade is suffering. Jobs are at risk. We can’t afford to drag this out much longer.”

Voices critical of Beijing’s hardline stance are often silenced. A post by a Chinese Academy of Social Sciences researcher calling retaliatory tariffs “completely wrong” was quickly censored after it gained traction on WeChat.

“There’s no point in hurting ourselves just because the U.S. is doing the same,” the researcher wrote.

Despite Xi Jinping’s recent diplomatic tour of Southeast Asia to boost China’s image as a stable partner, analysts warn the country’s growth outlook remains shaky. China has set a 5% growth target for 2025—but economists say it’s an uphill battle.

Goldman Sachs recently warned that U.S. tariffs would continue to weigh heavily on China’s economy. Even with a surprising 12.4% export surge in March, the momentum is unlikely to last.

The anonymous Chinese expert believes a resolution is coming—eventually.

“This is about saving face. China is waiting for the U.S. to blink first, so it can frame any deal as a win,” he said.

Source: CNN – Trump’s trade war olive branch met with derision and mistrust inside China

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Asian markets took a sharp nosedive on Monday, amplifying a global stock market rout sparked by US President Donald Trump’s escalating trade war.

In Japan, the Nikkei 225 plummeted over 8% right after the opening bell, dipping below the critical 33,000 mark for the first time since August 2024. The broader Topix index fared similarly, sliding more than 7.5%, though it managed to recover slightly from its steepest losses.

Japanese Prime Minister Shigeru Ishiba addressed the crisis, reaffirming that his government will continue urging Trump to reduce tariffs on Japan. However, he acknowledged that meaningful progress wouldn’t be immediate. “The government must do everything possible to mitigate the economic fallout,” Ishiba told parliament, emphasizing support for local businesses and job protection.

Trump’s latest move is a 24% tariff on Japanese imports, which is set to take effect later this week despite Japan being a key US ally under their defense treaty.

Meanwhile, the global ripple effect from the trade war has intensified, with Asian markets mirroring the worst two-day slump on Wall Street in five years. US stock futures tanked on Sunday evening after two days of heavy losses, which have already wiped out over $5.4 trillion in market value.

Trump’s sweeping tariff policies, which began taking effect over the weekend, have triggered strong pushback from global investors. The US’s newly imposed tariffs have been met with retaliatory action from China, which slapped a 34% tariff on all US goods on Friday, further stoking fears of a full-blown, destructive trade conflict.

On Sunday, Trump downplayed the market turmoil, stating he didn’t intend to crash markets, though he refrained from predicting what lies ahead. “What’s going to happen with the market? I can’t tell you,” Trump remarked aboard Air Force One. “But I can tell you, our country has gotten a lot stronger, and eventually it’ll be a country like no other.”

Across Asia, the damage was widespread. South Korea’s Kospi index plunged more than 4.8%, triggering a circuit breaker designed to prevent panic selling. Taiwan’s Taiex saw a staggering drop of 9.7%, with major exporters like TSMC and Foxconn halting trading after their shares plummeted nearly 10%.

In Australia, the ASX 200 index shed as much as 6.3%, while New Zealand’s NZX 50 index followed suit with a 3.5% loss.

As US stocks brace for another round of sharp declines, analysts warn that the S&P 500 is perilously close to entering bear market territory, defined by a 20% drop from its peak. This downturn signals mounting uncertainty, not only for investors but also for the broader global economy.

The question now is how long this turmoil will last and whether Trump’s trade policies will lead to long-term economic damage or if the markets can eventually recover from the turbulence.

Source: CNN – Asian markets plunge as Trump’s global tariff turmoil deepens

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Chinese regulators have put a sudden hold on a major deal involving two key ports in the Panama Canal zone, delaying what was expected to be a swift closing next week. The move comes as China’s State Administration for Market Regulation launches an antitrust investigation into the transaction, citing the need to protect fair competition and safeguard public interest.

The deal, spearheaded by US investment giant BlackRock, involves acquiring Hong Kong-based CK Hutchison’s controlling interest in 43 ports worldwide, spanning 199 berths across 23 countries. The acquisition was seen as a strategic move to ease tensions in the region, but China’s regulatory intervention has now cast uncertainty over its completion.

In response to the investigation, CK Hutchison has decided to postpone the official signing of the Panama ports agreement, according to a report from the South China Morning Post. Neither BlackRock nor CK Hutchison have issued immediate comments on the delay.

Former President Donald Trump has repeatedly and incorrectly claimed that China controls the Panama Canal—when in fact, Panama itself manages the waterway, while Chinese companies own ports on both ends. Trump has even suggested that the United States should retake control of the canal, adding another layer of geopolitical tension to the situation.

The timing of China’s regulatory move coincides with escalating economic tensions between Washington and Beijing. The Trump administration recently imposed a 20% tariff on all Chinese imports, prompting retaliatory pressure from China. Further tariff announcements are expected in the coming days, adding to the growing trade dispute.

The Panama Canal, a 51-mile passage connecting the Atlantic and Pacific Oceans, is an essential global trade artery. It handles roughly 4% of the world’s maritime trade and facilitates over 40% of US container traffic. Beyond commercial use, it also serves as a crucial route for military ships.

Originally built by the United States and completed in 1914, the canal was under US control for most of the 20th century. However, in a controversial treaty brokered by the Carter administration, control was transferred to Panama in 1999, despite opposition from many Republicans at the time. Today, the canal remains a cornerstone of Panama’s economy, generating nearly $5 billion in annual profits and contributing 23.6% of the country’s total income, according to a December 2024 study by IDB Invest.

Trump’s administration has been vocal about reducing Chinese influence in Panama. National Security Adviser Mike Waltz revealed last month that discussions were underway to address concerns over Chinese-controlled ports near the canal. Additionally, Trump has demanded that Panama waive fees for American vessels transiting the waterway, a request that has sparked controversy.

During a recent trip to Panama, Secretary of State Marco Rubio supported the idea, arguing that the US should not be required to pay fees to access a passage it would be responsible for defending in times of conflict. His remarks highlight the broader strategic importance of the canal and the ongoing geopolitical tug-of-war between global powers.

With China’s investigation now in motion, the future of the BlackRock-led deal remains uncertain. The delay underscores the growing complexity of US-China relations, where economic, strategic, and political interests continue to collide on the global stage. As tensions escalate, the fate of the Panama Canal’s ports will likely remain a focal point in broader discussions about trade, security, and geopolitical influence.

Source: CNN – Panama Canal ports sale has been put on hold by Chinese regulators

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Caught in the Trade War Crossfire

Walmart is feeling the heat as tensions rise between the United States and China over escalating tariffs. Chinese officials confirmed on Thursday that they had met with executives from the U.S. retail giant following reports that Walmart pressured its Chinese suppliers for discounts to offset the impact of new tariffs imposed by President Donald Trump.

“Our relevant departments have reached out to Walmart to further understand the situation, and the company has provided an explanation,” said He Yongqian, a spokesperson for China’s Commerce Ministry. However, no further details were provided.

Trump’s Tariff Hike Sparks Backlash

Last week, President Trump doubled tariffs on all Chinese imports, raising them to 20%. In retaliation, China imposed fresh tariffs on U.S. agricultural imports, which took effect on Monday.

Many businesses are struggling to adjust to the rapid shifts in trade policy, with retailers warning of potential price hikes as inflation squeezes consumers. Walmart, the world’s largest retailer, is no exception.

Walmart’s Request for Supplier Discounts

To mitigate the financial strain, Bloomberg reported that Walmart has asked some of its Chinese vendors for price cuts of up to 10%. The move aims to absorb the cost of U.S. levies without significantly raising prices for American consumers.

However, Walmart’s approach has not gone unnoticed by Chinese authorities. On Wednesday, state broadcaster CCTV’s social media platform, Yuyuantantian, posted a warning, stating:

“Walmart’s demand for Chinese suppliers to bear the full tariff burden is unreasonable and disrupts fair competition and international trade order.”

The post also hinted that Chinese authorities could take further action if Walmart continues pressing suppliers for lower prices.

Chinese Suppliers Already Under Pressure

While price negotiations are common in China’s business landscape, Walmart’s request comes at a time when many Chinese manufacturers are already struggling with thin profit margins. Increased production costs and supply chain disruptions have made it challenging for suppliers to offer additional discounts.

In a statement to CNN, Walmart defended its actions, stating:

“Our goal is to help people save money and live better. Our conversations with suppliers are aimed at making that a reality for millions of customers. We will continue to work closely with them to navigate these uncertain times.”

Walmart’s Significant Presence in China

Walmart is not just a major U.S. retailer sourcing products from China—it also has a thriving business within the country. The company entered China in 1996 and opened its first superstore and Sam’s Club in Shenzhen.

Today, Walmart operates in more than 100 Chinese cities. In its most recent financial year, the company reported a 16% increase in net sales, reaching $17 billion in China.

What’s Next?

As the U.S.-China trade war intensifies, Walmart’s operations in both countries remain vulnerable to ongoing tensions. If Chinese authorities decide to take action against the retailer, Walmart could face further challenges in its supply chain and market position.

For now, Walmart is walking a tightrope—balancing its relationship with Chinese suppliers while trying to shield American consumers from rising prices.

Source

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Escalating Trade Tensions President Donald Trump has issued a stern warning to the European Union (EU), threatening to impose a 200% tariff on European wines, champagnes, and spirits. This comes in response to the EU’s planned 50% tariff on American whiskey, which is set to take effect on April 1.

The EU’s tariff proposal was unveiled as a countermeasure against the U.S. administration’s steel and aluminum tariffs. Trump, however, made it clear on Thursday via social media that he would retaliate if the EU moved forward with its plan.

Trump’s Warning to the EU In a morning post, Trump declared:

“If this tariff is not removed immediately, the U.S. will shortly place a 200% tariff on all WINES, CHAMPAGNES, & ALCOHOLIC PRODUCTS COMING OUT OF FRANCE AND OTHER E.U. REPRESENTED COUNTRIES. This will be great for the wine and champagne businesses in the U.S.”

His remarks reinforced statements he had made earlier in the week, where he signaled strong action against what he described as unfair trade practices. “Of course, I will respond,” Trump told reporters in the Oval Office on Wednesday.

Global Trade Disputes Intensify Trump has aggressively pursued tariffs against multiple U.S. trading partners, including Canada, Mexico, and China. He has also announced plans to tax imports from the EU, Brazil, and South Korea, advocating for what he calls “reciprocal” trade policies. The new steel and aluminum tariffs, introduced on Wednesday, further fueled trade tensions, with the president claiming they are necessary to reclaim wealth “stolen” by other countries.

EU’s Countermeasures The European Commission has responded swiftly, outlining its own economic retaliation. European Commission President Ursula von der Leyen stated:

“As the United States is applying tariffs worth $28 billion, we are responding with countermeasures worth 26 billion euros [approximately $28 billion].”

These countermeasures extend beyond steel and aluminum, targeting industries such as textiles, home appliances, and agriculture.

Bourbon Industry Urges Resolution Amid the intensifying trade dispute, U.S. bourbon producers are calling on the Trump administration to reconsider its position.

Chris Swonger, President and CEO of the Distilled Spirits Council, urged a diplomatic solution, stating:

“The US-EU spirits sector is the model for fair and reciprocal trade, having zero-for-zero tariffs since 1997. We urge President Trump to secure a spirits agreement with the EU to get us back to zero-for-zero tariffs, which will create U.S. jobs and increase manufacturing and exports for the American hospitality sector. We want toasts, not tariffs.”

As the deadline for the EU’s whiskey tariff approaches, the world is watching to see whether the two economic powerhouses will negotiate or escalate their trade conflict further.

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