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Walmart committed to increase domestic U.S. sourcing of the products it sells, including taking steps to help onshore manufacturing of appliances.
Walmart U.S. President and CEO Bill Simon made the announcement while speaking at the National Retail Federation's annual BIG Show.
Walmart and Sam's Club will buy an additional $50 billion in U.S. products over the next 10 years. The retailer will help grow U.S. manufacturing on two fronts:
* By increasing what it already buys in the United States.
* By helping to onshore U.S. production in high potential product areas, such as higher-end appliances.
"At the heart of our national political conversation today is one issue: creating jobs to grow the economy," said Simon. "We are meeting with our suppliers on domestic manufacturing and are making a strong commitment to move this forward."
Walmart created a senior team within the company to lead the effort and will sign longer-term purchase agreements to give suppliers more certainty.
Walmart will help convene a manufacturing summit in the summer of 2013 for stakeholders to work together and help accelerate these changes.
Walmart also pledged to help veterans find jobs when they come off active duty, and said the company is helping part-time associates who want to be full time, make that transition.
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