US President Donald Trump is set to hold a crucial meeting with leading American retailers on Monday afternoon to discuss the growing strain his trade policies have placed on their businesses, a White House official confirmed.
The official, speaking on condition of anonymity, verified a Bloomberg report that representatives from Walmart, Home Depot, Lowe’s, and Target would be attending the meeting at the White House. While Walmart declined to comment, the other companies have yet to respond to media inquiries.
Trump tariffs rattle markets
Trump’s aggressive tariff strategy, especially targeting Chinese imports, has had far-reaching effects across several industries. On April 2, the president announced sweeping tariffs on multiple countries, though temporarily paused them for a 90-day period — except those imposed on China, which faces the steepest levies.
This move has unsettled US stock markets, already volatile due to fluctuating trade tensions and unpredictability surrounding White House policies. Retailers have been among the hardest hit.
Retailers with heavy China exposure at risk?
According to company data, over half of Walmart and Target’s imports originate from China, while Home Depot and Lowe’s also rely heavily on Chinese suppliers. Analysts fear that continued tariffs could slash profit margins and force retailers to either absorb higher costs or pass them on to consumers.
The retail sector’s stock performance in 2025 reflects this pressure. Walmart shares are up just under 2% year-to-date, while Target has plunged 32%, suffering the most among major chains. Home Depot and Lowe’s have also posted significant double-digit losses.
President Donald Trump has recently imposed tariffs of up to 145% on certain Chinese goods, with some duties reportedly reaching 245%. In retaliation, China has levied tariffs of 125% on US products.
Industry leaders seek clarity
Retail executives are expected to press Trump for more predictability in trade policies and seek possible exemptions or easing of tariffs on consumer goods. The outcome of this meeting could have a substantial impact on the retail sector’s outlook for the rest of the year.
Further developments are awaited as the White House prepares to host one of the most consequential meetings for the US retail industry this year.