Costco has asked its mainland China-based suppliers to slash prices to offset tariffs imposed by the administration of President Donald Trump, the Financial Times reported Tuesday, citing two suppliers.
The US warehouse retail company's move follows that of Walmart and other retailers, the report said.
China's Commerce Ministry called on Walmart in the previous week to discuss reports of requests for lower prices from Chinese suppliers, the report said.
Costco, with seven warehouses in mainland China, "will be very careful," the report said, citing one of the suppliers.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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