Walmart Inc Chief Executive Doug McMillon said on Friday the retailer was concer...
FAYETTEVILLE, Ark. - Walmart Inc Chief Executive Doug McMillon said on Friday the retailer was concerned that fresh produce prices would rise if tariffs are placed on imports from Mexico.
“We are concerned about that category ... We don’t want prices going up on those fresh items for customers and we will resist it as long as we can but we can’t tell when those prices have to go up,” McMillon told reporters at Walmart’s shareholders’ meeting. U.S. President Donald Trump has threatened to impose levies starting at 5% on June 10 if the Mexican government does not agree to do more to tackle an increase in mostly Central American migrants crossing Mexico to enter the United States.
McMillon comments come as retailers are preparing for an increase in prices after the Trump tariffs on imports from China.“Where we can change sourcing, whether it’s Mexico, it’s China, we will but where we can’t we just have to deal with it and find places where we can cut costs in the near term,” he said.On Thursday, Walmart U.S. Chief Executive Greg Foran told Reuters the impact from tariffs on imports from Mexico will be “significant” for Walmart. He declined to share additional details.
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