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President Donald Trump met with major retailers at the White House, as business executives seek relief from sweeping tariffs that have destabilized global supply chains and rattled US consumers.
The Monday meeting included representatives from Walmart Inc., Home Depot Inc. and Target Corp., according to people familiar with the plans. The discussion came amid a 90-day pause in Trump’s higher tariffs on trading partners except China that dozens of foreign leaders and business executives are using to negotiate better terms.
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“We had a productive meeting with President Trump and our retail peers to discuss the path forward on trade, and we remain committed to delivering value for American consumers,” a Target spokesman said in an emailed statement.
A Walmart spokeswoman also called the meeting productive and a Home Depot spokeswoman said the company looked forward to continuing constructive dialog with the White House. The White House did not immediately respond to a request for comment on the discussion.
Disruptions caused in large part by Trump’s tariffs have posed challenges for retailers that are main drivers of the US economy. A selloff in US assets deepened Monday amid tariff anxiety and Trump’s threats against Federal Reserve Chair Jerome Powell.
Shares of the companies ticked up after news of the meeting, but Walmart and Home Depot remained down for the day. Target rose less than 1% at the close of trading.
American companies have warned that business could slow in the months ahead as the import taxes go into place. While companies have operated with tariffs for several years, the magnitude and fast-changing nature of Trump’s levies have become a unique problem.
Trump’s duties on nearly all trading partners and a litany of sectors, including metals, are threatening to increase prices on everything from spirits and apparel to electronics and furniture. Those changes are expected to further hamper consumer demand, as Americans have already been price-sensitive following years of inflation.
In addition to the cavalcade of overseas officials seeking lower tariffs, Trump has indicated he would be open to negotiating on rates with corporate leaders.