Walmart adds $350 billion in investment to support American manufacturing

Walmart said Wednesday it will invest $350 billion over the next decade to support products made , grown or assembled in the United States .

As of the most recent fiscal year, nearly two-thirds of Walmart's products were made , assembled or grown in the United States , a company spokesman said. It is reported that the $350 billion investment will make American products a larger part of its supply chain. Walmart will focus on purchasing more materials and goods from domestic manufacturers, including plastics , textiles , pharmaceuticals and medical supplies , food processing, and small appliances.

Walmart U.S. CEO John Funer said this will benefit the environment and the economy. " By sourcing goods closer to customers, it will not only create more jobs in the United States, but also provide more American entrepreneurs with the opportunity to become Walmart suppliers or sellers, which will reduce the company's carbon footprint.

The increased spending could support more than 750,000 new U.S. jobs, according to a study by Walmart and Boston Consulting Group, which used data from the Economic Policy Institute and the Bureau of Labor Statistics.

At the same time, the decision is a response to customer demand. Walmart found that more than 85% of consumers surveyed in 2019 said it was important for retailers to sell products that are made or assembled in the United States .

Walmart will also reportedly launch a new program called "American Lighthouse," which will bring together stakeholders from different parts of the country to come up with ways to overcome barriers to production in the United States.

Over the past few years, Walmart has also been creating new ways for U.S. suppliers to sell their products in Walmart stores and on its website . That includes an annual Open Call event , where small businesses can pitch their products. It also created a website where Walmart suppliers can learn how to bring their business back to the U.S.

However, Walmart has also faced scrutiny for this. In 2015, after an investigation by the Federal Trade Commission and a watchdog group, it was found that most of the products on Walmart's platform were not made in the United States . As a result, Walmart removed the "Made in the USA" logo from the products on its website and listed the proportion of American-made products on the label.

In summary, Walmart's increased support for American manufacturing will to some extent harm the interests of Chinese sellers, and Chinese sellers may lose opportunities.

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Made in the USA

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