SAN FRANCISCO Jan 27 Shares of U.S. grocery store operators fell on Friday as President Donald Trump saved up his criticism of Mexico, which is a serious provider of produce and different meals for U.S. customers.
A day after the White House advised that the United States might impose a 20 p.c tax on items from Mexico, shares of each Wal-Mart Stores and Kroger Co fell greater than 1 p.c, whereas Whole Foods Market dropped as a lot as 2.eight p.c.
Trump on Friday repeated statements that Mexico has taken benefit of the United States and mentioned Mexico “beat us to a pulp,” deepening worries a few disaster between the 2 buying and selling companions.
On Thursday, Mexican President Enrique Pena Nieto scrapped a deliberate journey to Washington to fulfill Trump, who has repeatedly demanded that Mexico pay for a wall on the U.S. border to halt unlawful immigration. The White House later mentioned the potential 20 p.c tax may very well be used to pay for the wall.
Kroger shares had been down about 3 p.c from earlier than Trump’s inauguration every week in the past whereas meals distributor Sysco has misplaced about 1 p.c.
With buyers additionally involved that Trump might tear up commerce offers with China and different nations, Wal-Mart has fallen 4.4 p.c since he gained the November election. (Reporting by Noel Randewich; Editing by Leslie Adler)