Over concerns about trade and tariffs, US retail giants meet Trump. President Trump met with top American retailers Walmart, Target, Home Depot, and Lowe's to discuss worries about tariffs and the uncertain business climate. Following a 90-day pause on new import levies, businesses had the opportunity to advocate for improved trade conditions at the meeting. Retailers, heavily dependent on global supply chains, have been hit hard by Trump’s trade policies. Executives called the meeting “productive” and committed to keeping prices stable for consumers.
Pricing and inventory planning have been challenging as a result of tariffs on goods like clothing, electronics, and metals. Even though Walmart purchases the majority of its goods locally, it still imports some items. Home Depot, which sources more of its goods from North America, may be less affected. As consumers rushed to make purchases ahead of anticipated price increases, retail sales increased by 1.4% in March, the largest increase in two years. Before a 25% tariff on automobiles went into effect, auto sales increased by 5.3%. The majority of retailer stocks ended the day lower despite the meeting. Since December, consumer sentiment has decreased by over 30%, indicating ongoing concern. Trump expressed willingness to negotiate, saying, "You have to show a certain flexibility," in an effort to ease tensions.