President Donald Trump separated on Saturday Wal MartSaying on social media that the retail giant must eat the additional costs created by the customs tariff.
As TrumpImport taxesTry to assure the skeptical audience that foreign producers will pay for these taxes and that retailers and car makers will absorb additional expenses. Most economic analyzes are deeply skeptical of these allegations and warned that commercial sanctions will increase inflation.Wall Mart warned on ThursdayEverything from bananas to children’s car seats can increase in price.
Trump, in his social position in fact, criticized in retail stores, which employ 1.6 million people in the United States. He said that the company, based in Benonville, Arkansas, must sacrifice its profits for its economic agenda, which he says will ultimately lead to more local jobs in manufacturing.
Trump published: “Wal -Mart must stop trying to blame the fees as a reason to raise prices throughout the series.” “Wall Mart achieved billions of dollars last year, more than expected. Between Wall Mart and China, they should, as it is said,” eat definitions “, and not to charge the scheduled customers anything. I will watch, as well as your customers !!!”
The publication by the Republican President is increasingly embarrassed by the options that many major American companies face as a result of his definitions, from the deterioration of sales to the possibility of Trump’s anger. Trump, likewise, warned home car manufacturers not to raise their prices, although external analyzes sayRaising production costs.
So far, this customs tariff closed the flexible American economy. Initial reading ofMichigan University survey on consumer moraleOn Friday, it fell to its second lowest level ever, as it mentioned nearly 75 % of the respondents “automatically” definitions because they greatly expect inflation to accelerate.
In April, the CEO of Wall Mart Doug McMelon was among the retail executives who met with Trump at the White House to discuss the definitions. However, the Trump administration filed despite warnings and attacked other companies such as Amazon and apple That struggle with disorders in their supply chains.
The financial manager of Wall Mart John David Riny said he believed that the 350 -dollar car seats in China will soon cost an additional $ 100, an increase of 29 %.
“We are wireless to maintain low prices, but there is an end to what we can tolerate, or any retail dealer for this issue,” he told Associated Press on Thursday after the company told strong sales in the first quarter.
The administration has recently increased to its tariff by 145 % on China to 30 % for 90 days. Trump put a tariff of up to 25 % on Mexico and Canada due to illegal immigration and drug trafficking, which will harm the relationship with the largest commercial partner in America.
There is a 10 % basic tariff for most countries, as Trump promises to reach commercial deals in the coming weeks after financial markets were shocked in early April by imposing higher taxes on import based on the trade deficit with other countries. Trump insists that he intends to maintain customs tariffs as a source of revenue and that a framework agreement with the United Kingdom would largely keep the tariff rate.
Trump also set import taxes on cars, steel and aluminum and plans to do so on pharmaceutical drugs, among other products.
Trump’s definitions and repercussions about the amount he must receive have given up uncertainty throughout the American economy, so that the Federal Reserve Chairman Jerome Powell has kept the criteria for the central bank steadfast so that there is more clarity. Powell warned that customs tariffs can harm growth and increase prices.
On Saturday, Trump repeated his calls for a height to reduce standard prices. This may cause inflation, but the president stressed that inflationary pressure has greatly disappeared from the economy.
“It is too late Powell, the legendary man because he is very late, it is likely to blow it up again – but who knows ???” Trump was published on the social truth.
This story was originally shown on Fortune.com
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