Walmart reportedly meets with China about tariffs

Walmart is said to be in talks with the Chinese government regarding tariffs.

Reports from Chinese state media suggest Walmart is engaging in discussions with China’s commerce ministry about the impact of U.S. tariffs on China-made goods.

According to China Central Television (CCTV), which is the national TV broadcaster of China and has direct ties to the Chinese Communist Party’s central propaganda department, Walmart has been asking its Chinese suppliers to lower their prices to a point where they would be doing business with Walmart at a loss.

In March 2025, President Trump doubled a tariff he imposed in February 2025 on Chinese products to 20%, and CCTV said Walmart has been making this request of Chinese suppliers to offset the impact of Trump’s new tariffs.

However, CCTV reported that Chinese companies and citizens "expressed dissatisfaction" with Walmart’s request and "many parties" called on the Chinese government to take action in response. The Chinese Ministry of Commerce and other government departments reportedly met with Walmart on Tuesday, March 11 to better understand the situation.

According to CCTV, the meeting sent a "clear signal" to Walmart that its "unilateral request for Chinese companies to lower prices may create the risk of supply chain disruption and harm the interests of Chinese and American companies and American consumers," and that Chinese and U.S. companies should work together to respond.

"Walmart can give full play to its positive influence in U.S. domestic politics and work with Chinese suppliers to overcome difficulties," CCTV said. "Chinese and American companies should jointly respond to the tariff challenges posed by the US government."

Walmart has not publicly responded to the report. However, the discount giant recently offered a soft fiscal 2026 outlook predicting a net sales increase of 3% to 4%, which would imply sales of $694.7 billion to $701.5 billion, which is less than analysts were expecting.

The retailer also expects adjusted earnings per share in the $2.50 to $2.60 range, which includes a $0.05 per share headwind from currency. Analysts were expected earnings per share of $2.76.

"Our outlook assumes a relatively stable macroeconomic environment, but acknowledges that there are still uncertainties related to consumer behavior and global economic and geopolitical conditions," Walmart CFO John David Rainey said on the company’s earnings call.

Walmart said its forecast did not account for the effects of tariffs, but on the earnings call CEO Doug McMillon said the company has managed tariffs for many years and it will continue to do so.

"We can’t predict what will happen in the future, but we can manage it really well and we’re wired to try and save people money, so that’ll be our ultimate goal," said McMillon.