According to a report by The Financial Times, Costco Wholesale is reportedly urging suppliers in mainland China to lower prices due to U.S. tariffs. This move comes after Walmart met with Chinese officials following reports that the retailer requested Chinese suppliers to decrease prices to offset tariff effects.

During a recent earnings call, Costco's CEO Ron Vachris mentioned that the company might need to adjust its global supply chain if tariffs lead to notable price hikes. Vachris stated that a third of Costco's U.S. sales are from imported products, with less than half of that portion originating from China, Mexico, and Canada.

Costco has not yet responded to a request for comment from Reuters.