Walmart

When asked about media reports that Walmart had been summoned for talks by China's Ministry of Commerce and other departments for reportedly requiring some of its Chinese suppliers to slash prices, a spokesperson of China's Ministry of Commerce said on Thursday at a regular press briefing that "We have taken note of relevant media reports and have also received feedback from some companies."

In response, the relevant departments of the ministry reached out to Walmart for further information, and the company has provided an explanation, He Yongqian, the spokesperson said.

The Ministry of Commerce (MOFCOM) and other departments summoned Walmart on Tuesday for reportedly requiring some of its Chinese suppliers to slash prices significantly in an attempt to shift the burden of the US tariffs on China to Chinese suppliers and consumers, Yuyuantantian, a media outlet affiliated with China Media Group, reported on Wednesday.

Yuyuantantian noted that the first message conveyed by the talks is that Walmart's unilateral demand for Chinese companies to cut prices could risk disrupting supply chains, harming the interests of both Chinese and US businesses as well as American consumers. About 60 percent of Walmart's globally sourced products come from China. 

The second message is that as the unilateral US tariff hikes hurt businesses on both sides, companies from both countries should work together to navigate these challenges, the report said.

Global Times