MOC meets Walmart after retailer asks suppliers to cut prices

China's Ministry of Commerce and other relevant authorities held talks with Walmart Inc on Tuesday to discuss the US retailer's recent request for price reductions from Chinese suppliers.

Walmart has recently asked some Chinese suppliers for price cuts of up to 10 percent per round of additional tariffs the US government imposes on Chinese goods.

In response to this move, the Beijing-based China Chamber of Commerce for Import and Export of Textiles said in a statement that it will take proactive measures to safeguard the interests of its member companies.

Shi Xiaoli, a professor of international trade law at the China University of Political Science and Law in Beijing, said Walmart's request for price reductions from Chinese suppliers may violate commercial contracts, potentially disrupting the normal market transaction order.

This could pose a risk of supply chain disruption, harming both Chinese and US businesses as well as US consumers, said Shi.