The official spoke on anonymous condition and confirmed a Bloomberg report that the White House meeting will include representatives of Walmart, Home Depot, Low and Target. Large U.S. retailers, especially Walmart and Walmart, have imported a large portion of goods from overseas, and are expected to include the 145% tariff imposed in China to increase the cost of Americans’ daily consumer goods in the coming months.
Walmart confirms CEO Doug McMillon will attend the meeting. Trump’s tariffs have rippled across a wide range of industries and put pressure on U.S. stock markets that have been shocked for weeks by their unstable moves. Recently, he expressed anger at the speech of Fed Chairman Jay Powell, who said last week that the economy is at risk of lower growth and higher inflation. The U.S. market sold on Monday, with the S&P 500 falling more than 3%, while the benchmark 10-year Treasury bills and the dollar were under pressure. He announced a large amount of tariffs on dozens of countries on April 2, and then suspended his duties for 90 days – in addition to China’s duties, China’s duties, picking the world’s second-largest economy with the largest taxes.
Home Depot, Lowe and Target did not immediately respond to requests for comment.
More than half of Walmart and Target imports are from China, while Home Depot and Lowe are also imported from the country, according to the company’s data.
Analysts fear these retailers will have a major blow to their profit margins due to tariffs. Walmart’s stock grew less than 2% in 2025, while other stocks lost double-digit losses. The target hit the hardest, down 32% so far this year.
