Retail Giants Brace for Tariff Talks with Trump

U.S. President Donald Trump is meeting with major retail representatives to discuss the impact of broad-based tariffs on businesses. Companies like Walmart and Target could face increased costs on imported goods, especially from China. Trump's tariff moves have been unsettling U.S. markets and impacting retail profits.

In a high-stakes meeting at the White House, U.S. President Donald Trump is slated to engage with leaders from major retail outlets including Walmart, Home Depot, Lowe's, and Target. The discussion will focus on the ramifications of broad-based tariffs on imported goods, many of which come from China.

The meeting, confirmed by a White House official on condition of anonymity, underscores the mounting tension between the administration and the retail sector, especially as tariffs could sharply increase consumer prices. Notably, Trump's tariff strategy has affected markets and retail bottom lines, with stocks such as Target suffering significant losses this year.

Retail analysts express grave concerns over how these duties will impact the profit margins of retailers heavily reliant on Chinese imports. Walmart's CEO, Doug McMillon, confirmed his presence, although responses from Home Depot, Lowe's, and Target were not immediately forthcoming.

(With inputs from agencies.)