President Donald Trump listens to reporters’ questions as he meets with Italian Prime Minister Giorgia Meloni in the Oval Office at the White House on April 17, 2025 in Washington, DC.
Win Mcnamee | Getty Images
President Donald Trump will meet Monday afternoon with executives from some of the nation’s biggest retailers, as his aggressive and unpredictable tariffs threaten to upend their import-heavy business models.
Trump is set to host top officers from Walmart, Target, Home Depot and Lowe’s at the White House to discuss the impact of his trade policies, an administration official told CNBC.
The White House did not list the meeting on the president’s public schedule Monday, and it was not immediately clear which executives from each company would attend.
The scheduled meeting was first reported by Bloomberg earlier Monday.
Walmart declined CNBC’s request for comment, while Target, Home Depot and Lowe’s did not immediately respond.
For retailers, tariffs are the latest threat to an already challenging economic landscape, where consumers are looking for low prices after years of high inflation.
Yet tariffs will weigh on some retailers more than others. As the nation’s largest grocer, Walmart is in a better position than many of its competitors.
About two-thirds of what Walmart sells in the United States is made, grown or assembled in America, chief financial officer John David Rainey said earlier this month at an investor event in Dallas.
Walmart imports the final one third from around the globe, he said, but China and Mexico are the “most significant” supplier countries.
Target, on the other hand, is in a tougher spot. The Minneapolis-based retailer is best known for discretionary merchandise like inexpensive, chic clothes and home goods, products that are typically manufactured overseas.
Target’s annual revenue has been roughly stagnant for the past four years, and the company recently projected just 1% sales growth for the current fiscal year.
This is developing news. Please check back for updates.
