President Trump Meets Walmart, Home Depot, Target Executives to Address Tariff Impact on U.S. Businesses

US • Business • 04/28 10:32
President Trump Meets Walmart, Home Depot, Target Executives to Address Tariff Impact on U.S. Businesses

On April 21, 2025, President Donald Trump met with Walmart CEO Doug McMillon, Target CEO Brian Cornell, and Home Depot CEO Ted Decker at the White House to discuss the impact of 145% tariffs on Chinese imports. The executives expressed concerns about rising consumer prices and potential inventory shortages. Following the meeting, Trump announced a partial rollback of tariffs and a 90-day pause on reciprocal tariffs. The meeting highlighted the need for greater inclusion of small businesses in policy discussions, as they are disproportionately affected by tariff impacts.

Key Updates

04/29 09:30

Trump's Tariff Strategy Prompts IBM's $150 Billion U.S. Investment Amid Consumer Sector Concerns

IBM announced a $150 billion investment to enhance U.S. leadership in mainframe and quantum computing, aligning with former President Donald Trump's tariff-driven 'America First' policy. This policy, imposing tariffs up to 145% on Chinese imports, aims to reduce the trade deficit and boost domestic manufacturing. While IBM benefits, consumer goods companies like PepsiCo and Diageo face rising costs and profit pressures due to these tariffs. The policy has caused supply chain disruptions and increased operational uncertainty, highlighting a divide between sectors benefiting from and those struggling under the policy.

04/29 02:33

Temu Raises Import Fees by 145% Due to Trump's Tariff on Chinese Goods, Impacting U.S. Shoppers

Chinese e-commerce platform Temu has imposed import charges on U.S. customers, with fees up to 145% due to a tariff policy by former President Donald Trump. This policy, effective May 2, includes a 145% tariff on Chinese imports and ends the de minimis exemption for goods under $800. Temu's charges have significantly increased prices for items like clothing and electronics. To mitigate this, Temu labels some products as stored in U.S. warehouses, exempting them from charges. Competitor Shein includes tariffs in listed prices, offering a different approach.

04/28 21:31

U.S. Aviation Industry Urges Trump Administration for Tariff Exemptions Amid Economic Struggles

The U.S. aviation industry is urging the Trump administration to lift tariffs on aircraft and parts, which were previously duty-free under the 1979 Civil Aircraft Agreement. These tariffs, including a 10% duty, are exacerbating financial pressures amid a sector recession marked by declining travel demand and rising costs. Industry leaders, including Southwest Airlines CEO Bob Jordan, highlight the impact on operations and margins. Airlines like Delta and American are scaling back growth plans, while manufacturers like Boeing face significant cost increases. The industry argues that tariff relief is crucial to maintaining competitiveness and supporting U.S. exports.

04/28 13:30

U.S. Agriculture Faces Crisis: Tariffs Lead to Canceled Orders, Layoffs, and Reduced Chinese Purchases

The U.S. agricultural sector faces a crisis due to escalating tariffs, leading to canceled export orders, layoffs, and reduced Chinese purchases. The Agriculture Transportation Coalition highlights significant financial losses as China shifts to suppliers like Brazil. The USDA reports a major cancellation of U.S. pork shipments to China. The crisis affects rural economies, with layoffs and unsold inventory. The Port of Oakland, reliant on exports, is also impacted. U.S. farmers and exporters are urging policy reversals to mitigate the trade war's effects, as China continues to diversify its agricultural imports.

04/28 13:02

Investors Concerned Over Big Oil's Share Buybacks Amid Falling Crude Prices and Trump's Tariff Announcements

Investors are concerned about the future of share buyback programs by major oil companies like ExxonMobil, Chevron, and BP due to falling crude oil prices and economic uncertainty from President Trump's global tariff announcements. Analysts expect these companies may reduce buybacks, impacting Wall Street's expectations for Big Oil in 2025. Oil prices have dropped significantly, with Brent crude falling from $74.98 to around $66 per barrel. The IMF has cut the U.S. growth forecast, and OPEC+ is increasing production, adding pressure on the market. Companies may need to adjust their strategies to maintain shareholder returns.

04/28 10:32

President Trump Meets Walmart, Home Depot, Target Executives to Address Tariff Impact on U.S. Businesses

On April 21, 2025, President Donald Trump met with Walmart CEO Doug McMillon, Target CEO Brian Cornell, and Home Depot CEO Ted Decker at the White House to discuss the impact of 145% tariffs on Chinese imports. The executives expressed concerns about rising consumer prices and potential inventory shortages. Following the meeting, Trump announced a partial rollback of tariffs and a 90-day pause on reciprocal tariffs. The meeting highlighted the need for greater inclusion of small businesses in policy discussions, as they are disproportionately affected by tariff impacts.

04/27 16:31

Trump's 25% Tariff on Foreign Cars: Boost for Tesla and Volkswagen, Threat to U.S. EV Market Growth

The Trump administration's 25% tariffs on foreign car imports are impacting the global auto industry, raising vehicle prices and complicating supply chains. Tesla and Volkswagen may benefit due to their U.S. manufacturing, which relies less on imports. However, the tariffs could hinder U.S. EV market growth by increasing costs for batteries and components. Global automakers, especially those from Germany, face challenges due to reliance on imported parts. The situation is exacerbated by ongoing trade tensions, with potential retaliatory tariffs from the EU and China further complicating the market.

04/27 12:30

U.S. Tariffs on Chinese Imports Cause Price Hikes and Fireworks Shortages Ahead of 2026 Celebrations

As of April 2025, the U.S. faces economic challenges from President Trump's 145% tariffs on Chinese imports. These tariffs are increasing consumer prices, prompting production shifts to Mexico and Vietnam, and disrupting the U.S. fireworks industry ahead of the 2026 celebrations. Industry leaders warn of shortages and cost hikes, while manufacturers adjust to the new trade environment. The tariffs have led to a slowdown in U.S. business activity and potential recession risks, while China faces job losses and shifts manufacturing to Southeast Asia to maintain U.S. market access.

04/27 10:31

April 2025 Tariffs by Trump Administration Disrupt Global Supply Chains, Increase Home Renovation Costs

In April 2025, the Trump administration's new tariffs on imports, especially from China, are disrupting global supply chains, increasing costs in home renovation, and slowing industry growth. Companies are adjusting sourcing strategies, but small businesses face challenges. Renovation costs are rising, with some materials seeing price hikes up to 70%. The remodeling industry is slowing as consumers delay projects due to financial uncertainty. Broader economic impacts include increased production costs and shipping rates. Industry leaders call for stable trade policies to mitigate ongoing disruptions.

04/26 16:31

New Tariffs Impact American Hobbies: Model Train Parts, Wine Corks, and More Face Price Hikes

New tariffs, including a 145% levy on Chinese imports and a 10% tariff on most other goods, are increasing costs for American hobbyists. Model train parts, wine corks, specialty butters, trading card sleeves, and sailboat sails are affected, leading to higher prices and supply shortages. Enthusiasts face difficult choices: pay more, wait longer, or opt for lower-quality alternatives. The tariffs are reshaping hobbies, with some enthusiasts like Frank Vaughan, a sailor, considering giving up due to tripled costs for sails. The long-term sustainability of many hobbies is now uncertain.

Retail Leaders Voice Concerns Over Tariff Impacts

The meeting brought together Walmart CEO Doug McMillon, Target CEO Brian Cornell, and Home Depot CEO Ted Decker. According to spokespeople from Walmart and Target, the executives had a "productive meeting" with President Trump, during which they emphasized the challenges posed by the steep tariffs on Chinese goods. The retail leaders warned that the tariffs could lead to higher prices for consumers and empty store shelves within weeks, potentially undermining consumer confidence and hurting the broader economy.

The executives stressed that while large retailers like Walmart and Target have diversified supply chains that might cushion some of the impact, smaller businesses — which often lack such flexibility — would be disproportionately affected. They urged the administration to consider the cascading effects on Main Street businesses that rely on affordable imported goods to maintain their operations.

Tariff Policy Adjustments Following the Meeting

Following the discussions, President Trump announced a partial rollback of the tariffs on Chinese imports. Specifically, he indicated plans to reduce tariffs on certain categories of goods, a move aimed at easing pressure on American companies and consumers. This decision came amid growing evidence of a sharp decline in cargo shipments from China, with some ports reporting a 60% drop in imports since the tariff hike earlier in April.

The administration also introduced a 90-day pause on reciprocal tariffs, applying a temporary 10% duty on imports from countries that had not retaliated against the U.S. This adjustment was seen as an effort to stabilize supply chains and prevent further disruptions to the retail sector and the broader economy.

Main Street Businesses Seek Greater Representation

While the meeting with major retailers marked a significant step in addressing business concerns, it also underscored the ongoing need for greater inclusion of small businesses in policy discussions. Advocacy groups such as the National Federation of Independent Business (NFIB), the S Corporation Association, and the Small Business & Entrepreneurship Council (SBE Council) have long called for small businesses to have a seat at the table.

Small businesses, which account for nearly half of the private economy and the majority of new job creation in the U.S., have been particularly vulnerable to the effects of tariffs. Many small firms either directly import goods or rely on domestic suppliers who are themselves exposed to international supply chains. Unlike large corporations, small businesses often lack the financial reserves to absorb sudden cost increases resulting from policy changes.

The Trump administration has previously emphasized a "Main Street first" agenda, with Treasury Secretary Scott Bessent stating at the American Bankers Association’s Washington Summit that the next four years would focus on empowering small businesses. However, the recent focus on large retailers has reignited calls for more direct engagement with small business owners and their representatives.

Broader Economic Context

The tariff increases and subsequent trade tensions with China have had wide-ranging effects on the U.S. economy. Retailers have warned of potential widespread shortages and layoffs in sectors such as trucking, logistics, and retail. Meanwhile, China's retaliatory tariffs, which raised levies on American goods to 125%, have further complicated the trade landscape.

The meeting with Walmart, Home Depot, and Target executives highlighted the interconnectedness of large and small businesses within the U.S. economy. While major retailers can leverage their scale to mitigate some of the impacts, the broader ecosystem — including countless small businesses — remains highly sensitive to shifts in trade policy.

References

People Also Ask...

faq

How will the tariff rollback affect small businesses in our local community?

faq

How might the tariff rollback impact small businesses compared to large retailers like Walmart and Target?

faq

How might Trump's tariff rollback impact stock prices for Walmart, Home Depot, and Target?