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President Donald Trump is scheduled to hold a meeting on Monday afternoon with executives from some of the largest retail companies in the United States, amidst concerns that his tariff policies may significantly disrupt their import-reliant operations.
The discussions will take place at the White House and include representatives from Walmart, Target, Home Depot, and Lowe’s, as reported by an administration official to CNBC.
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Interestingly, this meeting was not included in the president’s public schedule, and details regarding which executives will be present remain unclear.
The meeting’s existence was first brought to light by Bloomberg earlier in the day.
Walmart has chosen not to comment on the matter, while Target, Home Depot, and Lowe’s had not responded to inquiries at the time.
For retailers, the impact of tariffs represents another layer of complication in a market already strained by rising consumer expectations for affordable pricing following a prolonged period of inflation.
The severity of the tariff effects will vary widely across the retail sector. For example, Walmart, recognized as the country’s largest grocery retailer, appears better positioned than many competitors to withstand these financial pressures.
According to Walmart’s chief financial officer, John David Rainey, roughly two-thirds of the products sold by Walmart in the U.S. are domestically sourced. The remaining third is imported, with China and Mexico identified as the primary supplier nations.
In contrast, Target is grappling with a more challenging scenario. Known for its trendy yet affordable clothing and household items, Target sources a substantial portion of its inventory from abroad. The company’s sales growth has been stagnant over the last four years, with projections indicating only a modest 1% increase in revenue for the current fiscal period.
This is developing news. Please check back for updates.
Source
www.cnbc.com