President Donald Trump listens to reporters’ questions when he meets Italian Prime Minister Giorgia Meloni at the White House’s oval office on April 17, 2025.
Get McNamee | Getty Images
President Donald Trump meets Monday afternoon Walmart The CEO, a White House official, told CNBC as his offensive and unpredictable tariff agenda threatens to promote import-focused business models of top retailers.
Trump will also host executives target, Home Depot and Lowes Another executive told CNBC at the White House to discuss the impact of his trade policy.
The White House did not list the meeting on the president’s public schedule on Monday. The total attendance list was not immediately clear.
The scheduled meeting was first reported by Bloomberg earlier in the day.
Walmart declined to request CNBC’s comment, but Target and Lowe did not respond immediately.
A Home Depot spokesman declined to review details of the meeting, but said the home improvement retailer leader “meets regularly with government leaders at all levels on issues affecting our customers, peers and our business.”
For retailers, tariffs are the latest threat to an already challenging economic situation where consumers are looking for low prices after years of high inflation.
However, tariffs weigh some retailers more than others. Walmart, the country’s largest grocery store, stands out above many of its competitors.
About two-thirds of what Walmart sells in the US are made, grown and assembled in the US, Chief Financial Officer John David Rainey said earlier this month at an investor event in Dallas.
Walmart imports the last third from around the world, he said, but China and Mexico are the “most important” supplier countries.
Meanwhile, the target is in a more severe location. Minneapolis-based retailers are best known for their discretionary products, such as cheap, chic clothing and household items, typically manufactured overseas.
Target’s annual revenue has been stagnant for the past four years, with the company recently expecting only 1% of sales growth this year.
The National Retail Federation, the industry’s leading trade association, has issued warnings about the harm that can be done to American families. The group that lobbies and represents retailers have released its own estimate of how many consumers have to pay for everyday items such as sneakers, toasters and mattresses.
“More tariffs rival more anxiety and uncertainty for American businesses and consumers,” said David French, NRF’s vice president of government relations, on the day Trump revealed his “mutual” tariff plans.
“Washington leaders may not care about higher prices, but hardworking American families do,” France said.
This is developing news. Please check for updates.
