Retail

Walmart to back U.S. manufacturers with $350 billion of added business

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A worker delivers groceries to a customer’s vehicle outside a Walmart Inc. store in Amsterdam, New York, on Friday, May 15, 2020.

Angus Mordant | Bloomberg via Getty Images

Walmart said Wednesday that it plans to back American manufacturers by spending an additional $350 billion over the next decade on items that are made, grown or assembled in the U.S.

Nearly two-thirds of Walmart’s current assortment is made, assembled or grown in the U.S., as of the most recent fiscal year, according to a company spokesman.

With the move, the retailer said U.S. products will become an even larger part of its supply chain. It will focus the effort on buying more materials and merchandise from domestic…



Source cnbc.com

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