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President Donald Trump will meet with major White House retailers to discuss the impact of broad tariffs on his business.
Monday’s meetings include Walmart, Home Depot Inc., Lowe’s Cos, according to people familiar with the plan. and representatives of Target Corp. The discussion comes as a 90-day pause in Trump’s higher tariffs on trading partners, which dozens of foreign leaders and business executives, except China, were used by dozens of foreign leaders and business executives to negotiate relief.
Home Depot said it cooperates with governments on “both sides of the aisle” and will continue to meet with leaders at all levels of government. Target did not comment immediately. Lowe did not respond to a request for comment. Walmart declined to comment.
These responsibilities cause consumers to worry about higher prices, creating anxiety for companies that purchase goods from abroad, especially from China. Some companies warn that business may slow down as import taxes are in place.
In addition to the cavalry of overseas officials seeking lower tariffs, Trump also said he would be willing to negotiate with company leaders.
“We will talk to companies as well. You know, you have to show some flexibility. No one should be so strict.”
According to economic data, Americans have been rushing to buy items like cars, electronics and appliances, and then before Trump’s levy takes full effect. A Department of Commerce report said U.S. retail sales soared 1.4% since last month, the biggest increase in more than two years. Automobile purchases increased by 5.3% as buyers tried to avoid a 25% tariff on finished vehicles that were in place on April 3.
March data captured spending ahead of Trump’s announcement, then subsequently suspended high tariffs on countries around the world, and he hiked taxes on many Chinese goods to 145%. However, the report provides insights on consumer mindsets when it comes to high uncertainty about future prices.
With the assistance of Matt Townsend and Jennifer A. Dlouhy.
This article was generated from the Automation News Agency feed without the text being modified.
