CFO: Walmart raising prices because of tariffs

Walmart store in Newington, CT, Photo Date: 6/22/2016 / Cropped Photo: Mike Mozart / CC BY 2.0 / (MGN)

(CNN) Walmart is planning to raise prices on items impacted by tariffs on Chinese goods, according to CFO Brett Biggs. He did not specify which items would see increases.

The Trump Administration raised tariffs on $200 billion worth of Chinese-made goods last week. That mostly impacted industrial materials, but things like luggage, hats and gloves were also affected.

According to a letter sent to President Donald Trump by retail groups, China supplies 41 percent of apparel sold in the U.S. as well as 72 percent of all footwear and 84 percent of travel goods.

Walmart imports 26 percent of the merchandise it sells from China.

That number is lower than many other retailers because more than half of its sales come from groceries, which mostly come from the U.S. and other regions.

Biggs pledged Walmart will do everything it can to keep prices low.