Walmart Triples India Exports as Major U.S. Companies Pivot From China
On 12/15/20 at 7:39 AM EST
Walmart announced on Thursday it will triple exports of goods from India to $10 billion each year by 2027, as a nationwide pivot to other trade partners gains strength amid the continuing U.S.-China trade war.
U.S. goods imports from China fell by a stark 16.2 percent between 2018 and 2019, as the effects of Washington s aggressive stance towards Beijing takes effect.
Currently, Walmart estimates Chinese suppliers make up 70-80 percent of its U.S. merchandise, according to the Alliance for American Manufacturing.
However, following a ramping up of tariffs placed on exports from China under President Trump, a host of other, predominantly Asian, countries are now seeing a marked increase in trade with the U.S.
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