Wal-Mart hopes to drive US manufacturing with two day summit

The world's largest retailer has committed to buying $50 billion more US-made goods over the next decade.

Bentonville, Ark. – Wal-Mart Stores Inc. is hoping for a groundswell “made-in-America” movement.

The world’s largest retailer is hosting its first two-day summit this week bringing together retailers, suppliers and government officials that it hopes will build on its recent commitment to drive more manufacturing in the US.

The event, which is expected to draw more than 1,500 people, is occurring seven months after the Bentonville, Ark.-based discounter pledged that it planned to buy $50 billion more US-made goods over the next decade. That’s the equivalent of just more than 10% of what Wal-Mart will sell at retail this year.

But Wal-Mart has said that if other merchants try to do the same, that would mean an additional $500 billion in American-made goods over the next decade.

©The Associated Press