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 met with three chief executives of top retailers across the country on Monday to come to the White House to discuss how his sweeping tariff plans will affect his import-focused business model.
Walmart With CEO Doug McMillon target Chief Executive Brian Cornell was both present Home Depot CEO Ted Decker.
White House officials made representatives to CNBC early Monday. Lowes I will also be taking part in the meeting. After the meeting ended, officials told NBC News that none of Lowe was present.
After the meeting was wrapped, the three companies issued almost identical statements.
“We appreciated the opportunity to hold a productive meeting with President Trump and his team and share our insights,” a Walmart spokesperson said.
“We held productive meetings with President Trump and retailers, discussing the path to advancement in trade, and we remain committed to providing value to American consumers,” read Target’s statement.
“We look forward to holding a useful and constructive meeting with the President and continuing our dialogue,” a statement from Home Depot said.
First reported meeting Bloomberg Earlier that day, it was not included in the president’s public schedule.
In a statement provided to CNBC later Monday, Trump said the meeting was “very good,” adding that he was “honored to have them” in the oval office.
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. Lobbying for retailers and representative groups have We have released our own quote How many consumers have to pay for everyday items like sneakers, toasters, mattresses and more.
“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.
