White House Insists China 'Will Be Absorbing' Tariff Costs Despite Treasury Secretary Admitting Burden 'May Get Passed to Consumers'
Over the weekend, President Donald Trump wrote in a Truth Social post that "Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain" after the company's CEO revealed during an earnings call days prior that, "given the magnitude of the tariffs," the company will be raising prices.
"Between Walmart and China they should, as is said, 'EAT THE TARIFFS,' and not charge valued customers ANYTHING," Trump continued. "I'll be watching, and so will your customers!!!" he added. World Bank President David Malpass attends the Reuters NEXT Newsmaker event in New York City, New York, U.S., December 1, 2022. Reuters
When asked whether the president's remarks signaled an acknowledgment that Americans would bear the cost of tariffs not absorbed by companies, Leavitt firmly rejected the idea.
"First of all, the CEO of Walmart made those comments about the tariffs on an earnings call where CEOs, I believe, are legally obligated to give the most dire warnings and forecasts to their investors and stakeholders," Leavitt stated during Monday's press briefing.
"The reality is, as the president has always maintained, Chinese producers will be absorbing the costs of these tariffs and that is why China was so quick to hustle to the negotiating table with the United States of America," she continued. "They need our markets. They need our consumers," Leavitt added in a clip shared by journalist Aaron Rupar on X.
Originally published on Latin Times
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
DW
6 hours ago
- DW
Indian Prime Minister Modi hails progress made with China – DW – 08/19/2025
Indian Prime Minister Narendra Modi is set to attend the Shanghai Cooperation Organization (SCO) summit at the end of August. It follows his meeting China's Foreign Minister Wang Yi in New Delhi this week. Indian Prime Minister Narendra Modi hailed the "steady progress" made in improving the bilateral relationship with China during his meeting with Beijing's Foreign Minister Wang Yi on Tuesday. Wang's visit follows years of poor relations between the nuclear-armed Asian powers. "Since my meeting with President Xi [Jinping] in Kazan last year, India-China relations have made steady progress guided by respect for each other's interests and sensitivities," Modi said in a post on social media platform X. At the start of the meeting, India's National Security Adviser Ajit Doval said Modi will attend the Shanghai Cooperation Organization (SCO) summit that begins on August 31 in Tianjin. "Our prime minister will be visiting for the SCO summit," Doval said, speaking of "new energy" in diplomatic ties. It will be the first time in seven years the Indian Prime Minister will travel to China. Wang said China "attaches great importance" to Modi's visit to the SCO summit, according to an official translator. "History and reality prove once again that a healthy and stable China-India relationship serves the fundamental and long-term interests of both of our countries," Wang added. India and China, the world's two most populous nations, have had a tense relationship marred by rivalries and competitions for influence across South Asia. In 2020, tensions escalated to a deadly border clash. The violence left 20 Indian soldiers and four Chinese soldiers dead, putting an indefinite freeze on high-level political engagements. The thaw between Beijing and New Delhi began last October when Modi and Chinese President Xi Jinping met at a summit of emerging economies in Russia. It was the first time the leaders had formally spoken since 2019. The rebuilding of India-China ties comes as US President Donald Trump's aggressive tariffs policy has increased friction between New Delhi and Washington with steep tariffs on India. India has been a longtime US ally, seen as a counterbalance against China's influence in Asia. This year, both India and China have increased official visits and discussed easing some trade restrictions, movement of citizens and visas for businesspeople. In the last week, the spokesman for India's Foreign Ministry, Randhir Jaiswal, explained India and China have been in discussions to restart trade through three areas along their 3,488-kilometer (2,167-mile) border.
Int'l Business Times
6 hours ago
- Int'l Business Times
How Sajib Singha Turned Risk, Resilience And A Passion For People Into A Thriving Business And Real Estate Legacy
When Sajib Singha arrived in Texas with just $950 in his pocket, he carried little more than ambition, resilience, and the willingness to work. Today, as President of Aditya Associates, he oversees a diversified portfolio of franchises, real estate, and development projects, but at the heart of his story lies a simple philosophy: opportunities should be shared. "I came here when I was 20 years old, not knowing what was ahead of me. I just knew I had to work hard," recalls Singha. His first job was at a well-known international fast food restaurant, where he started as a team member and rose through the ranks to become a general manager. "That experience gave me my foundation in operations and, most importantly, in managing people." Hungry to build something of his own, he opened a small Chinese restaurant. It failed. But failure didn't deter him. Instead, he doubled down on his dream, cashing out his 401(k) to open a franchise of a quick-service restaurant chain known for its fried chicken with two partners. "That was the turning point. Risking everything made me take ownership of my future," Singha explains. What began as one store soon expanded into eight, thanks to his meticulous focus on clean, efficient operations and empowering employees. By 2015, Singha realized franchising was not only about food, it was also about real estate. With a keen eye for overlooked land, he began acquiring properties others avoided. "I look for the problems others don't want to deal with," he says. "If I can make the numbers work, we turn those challenges into opportunities." From that insight grew a design-build team under Aditya Associates , capable of taking projects from raw land to full-scale commercial developments. Today, Singha's ventures include shopping centers, apartment buildings, gas stations, and restaurants. His strategy often involves buying struggling locations or land with complications, then transforming them into thriving businesses. "We seldom buy anything at market price. Instead, we create value where others can't see it," he notes. Despite his success, Singha remains grounded. He attributes much of his growth to people-first leadership. Many employees have worked with him for over a decade, drawn by his willingness to support them in both good and difficult times. "We are only as strong as our people. When someone works for me, I want them to feel empowered, like they have ownership in the success of the business," he says. Family also plays a central role in his life. A father of three young sons and a devoted wife, he describes his household as a large, multi-generational family where values and faith are central. "I live by honesty and ethics," he explains. "I like to under-promise and over-deliver, whether in business or in life." What sets Singha apart is his view of success as something to be replicated for others. "I built my life by taking risks and seizing opportunities. Now my vision is to create those same opportunities for people in a sustainable way," he emphasizes. Whether through franchising, real estate, or investments, Singha sees Aditya Associates as more than a company; it is a platform for growth, designed to empower both investors and communities. His story, from humble beginnings to building an empire, is not just about wealth creation but about resilience, humility, and vision. It is proof that with hard work, integrity, and a people-first mindset, opportunity multiplies, not only for oneself, but for everyone willing to step forward.
DW
8 hours ago
- DW
Nigeria vows to mirror US visa social media rule – DW – 08/19/2025
Nigeria has announced it will impose reciprocal demands on US travelers after Washington said it would require social media disclosure from Nigerians seeking visas. Nigeria on Monday said it plans to impose reciprocal visa requirements on US citizens following Washington's new rule demanding that Nigerian applicants disclose their social media activity for the past five years. The Nigerian Foreign Ministry confirmed the decision after the US Mission in Nigeria issued its directive over the weekend. The US Mission said applicants must list all social media usernames, handles, email addresses and phone numbers linked to accounts used in the last five years. "Visa applicants are required to list all social media usernames or handles of every platform they have used from the last five years on the DS-160 visa application form," the mission said. It added that applicants would be required to certify that the information in their visa application was correct before signing and submitting it. "Omitting social media information could lead to visa denial and ineligibility for future visas," said the mission. The regulation is part of broader measures by the Trump administration that it says are to "ensure national security." The rule expands an earlier requirement for international students to share their accounts and even lower privacy settings. Officials said the information would help vet applications more thoroughly. Nigerian Foreign Ministry spokesman Kimiebi Ebienfa said the government would adopt the same measures for Americans applying for Nigerian visas. "Some people from the US might want to apply for a visa, and we will adopt the same measures. Anything visa is reciprocal. What you are mandating our nationals to do, we will also mandate your citizens applying for our visa to do," he said. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video He added that the Foreign Ministry will hold an inter-agency meeting with the Interior Ministry and the National Intelligence Agency to finalize the policy. "We will have a meeting and agree on our best way to respond to it holistically," Ebienfa said. Officials stressed that Nigeria was informed of the US plan in advance. The move comes as Nigeria faces pressure to protect its citizens from what it sees as restrictive foreign immigration rules. Ebienfa's comments were reported in the online editions of two of Nigeria's biggest newspapers, Punch and Vanguard. In July, Nigeria's Foreign Affairs Minister Yusuf Tuggar said the country would not bow to increased pressure to accept deported Venezuelans from US President Donald Trump.
