Walmart Hopes US, China Can Reach ‘Overarching’ Trade Agreement, Says CEO

Walmart continues to “monitor” the Section 301 “tariff discussions” between the U.S. and China and is “hopeful that an overarching long-term agreement can be reached,” said CEO Doug McMillon in a fiscal Q3 “management commentary” Thursday. “Our merchants continue to execute appropriate mitigation strategies as our goal is to be the low-price leader.” Walmart left unchanged its August full-year sales forecast. “Guidance assumptions include our current understanding of the timing of tariff implementation on various categories,” said McMillon. List 4B tariffs at 15 percent are scheduled to take effect Dec. 15 on smartphones, tablets, laptops and other tech categories.