President Donald Trump met with executives from major U.S. retailers Walmart, Home Depot, Lowe’s, and Target to discuss broad tariffs that could increase the cost of imported goods. These tariffs, including a 145% levy on Chinese products, are expected to raise prices on everyday items and add pressure on Americans already facing inflation.
Key takeaways:
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Walmart and Target rely heavily on imports from China, with over half of their products coming from there, making them particularly vulnerable to tariff impacts.
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This meeting was the first between Trump and Walmart CEO Doug McMillon since the tariffs were introduced, with other retailers’ CEOs also attending to discuss trade concerns.
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The tariffs have caused market volatility, with shares of major retailers falling sharply this year, especially Target, which is down 32%, reflecting worries about profit margins and economic uncertainty.
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