Walmart, Trade War
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Trump threatens a 50% tariff on EU
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President Trump on Friday took aim at Apple and the European Union in a significant escalation of his ongoing trade war. In a one-two posting spree on Truth Social early Friday, he threatened Apple with 25% tariffs on non-US-made iPhones,
Walmart has significant China exposure -- about 60% of the manufactured products it sells -- but its reputation for "everyday low prices," economies of scale, and strength in groceries make it more resilient in a trade war or a down economy than most of its retail peers.
In an announcement sent to Walmart employees, office-based roles will be eliminated amid ongoing restructuring efforts.
The previous de minimis shipment exemption has been critical to direct-to-consumer brands like Shein and Temu, allowing them to sell cheap goods to U.S. consumers. And a 54% tariff is still a hefty amount, especially if you’re just ordering a cheap dress from Shein or some toys from Temu.
Walmart's plan will affect teams in its global operations, e-commerce fulfilment in US stores and its advertising business. It is the largest US private employer with about 1.6 million employees
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Axios on MSNThe lose-lose calculus of the White House trade warUsually, there's at least one big group that stands to benefit from White House economic policy: businesses, workers or consumers. Why it matters: In this moment, it's not exactly clear who wins from the current administration's triple play of raising tariffs,