Walmart caught in US-China trade war, feels the heat after reportedly demanding discounts to cope with tariffs

News Snapshot:

Hong Kong CNN — Walmart is getting caught in the middle of an escalating trade war between the United States and China. Chinese officials summoned executives from the US retail giant on Tuesday to investigate whether it had pressured its suppliers in China for discounts to cope with rising tariffs imposed by Donald Trump, according to a state media report. Trump doubled tariffs on all Chinese imports to 20% as of last week. In response, China has announced a fresh round of retaliatory tariffs, covering US agriculture imports, which took effect Monday. Many businesses are struggling under Trump’s chaotic tariff...