Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

Good morning. Today is Wednesday, April 2nd. I'm Julie Morgan. Retailers squeeze suppliers over tariffs, a major EV battery deal, and Visa makes a big money play for Apple's credit card.

Walmart is reportedly actively pushing its Chinese suppliers to reduce prices in response to

tariffs imposed by the Trump administration. According to a report by Bloomberg that cites people

familiar with the matter, The Chinese suppliers are struggling to

comply with these demands due to already thin profit margins. Some Chinese manufacturers are having

trouble meeting Walmart's expectations to reduce costs by up to 10% for each round of tariffs.

The pressure on suppliers has led to varied responses with some manufacturers concerned that

any significant reduction in prices could lead them into financial losses.

A few Chinese factory owners have started to explore alternative manufacturing locations elsewhere

in Asia, like Cambodia and Vietnam, to maintain

both their long-term relationships with U.S. customers and profitability. The sources added

that Walmart and its suppliers are negotiating across product categories not only by country

of origin. Chinese state media criticized Walmart's approach,

suggesting that demanding such price cuts could disrupt fair competition

and potentially harm both U.S. and Chinese businesses.

The retail giant has been diversifying its supply chain to reduce reliance on China,

but the country remains a crucial source for various

goods like clothing, toys, and electronics, among others. It has been widely reported that Costco

and Target are also pushing for discounts. South Korea's LG Energy Solution said on Tuesday it

agreed to acquire the assets held by General Motors

in its Michigan Electric Vehicle Battery Joint Venture for $2 billion.

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