Two of Cisco Systems' top executives told CNBC that several US tariffs on imports from China would not only harm San Jose, California-based networking equipment, but US industries as a whole.
"If it goes to all China imports, it will not only affect us, but it will affect all industries," said Celly CFO Kelly Kramer Wednesday night on CNBC's "Mad Money."
With a halt in trade talks , Trump administration released this week a list of about $ 300 billion in Chinese goods that could be hit by tariffs, which would effectively impose duties on China's imports to the United States
Cisco Chairman and CEO Chuck Robbins, next door Kramer, said the company was prepared last week The tariff increases to 25% from 1
For his part, in retaliation for the US movement, China announced pl on Monday to raise tariffs of $ 60 billion of US goods.
In reporting better than expected quarterly earnings, earnings and forward guidance after Wednesday, Cisco said it had reduced its production in China pending the recent White House move, which President Donald Trump had threatened for some time.
"The reason we've been able to reduce … is just that is part of the business," Kramer said. "We will adjust" if it changes, she added.
Meanwhile, Walmart CFO broke Brett Biggs' similar feelings and said Thursday that the charges could lead to higher prices. "Increased prices will increase customer prices," he said.
Like Cisco, Walmart also reported strong quarterly results. Both companies' shares are components of the Dow Jones Industrial Average. With Cisco stocking up 7% and Walmart rising nearly 2%, Dow was heading Thursday for a three-season winning strip, after a sad start to the week on a barring of negative trading headlines.