Trump to Meet With Major Retailers Over Tariff Concerns

Executives from Walmart, Target, Lowe’s, and Home Depot are expected to take part in the meeting.

A Walmart in Encinitas, Calif., on April 13, 2016. Reuters/Mike Blake/File Photo

President Donald Trump is scheduled to meet on the afternoon of April 21 with executives from several of the nation’s largest retailers to discuss the impact of sweeping tariffs on their businesses, The Epoch Times has learned.

The meeting—first reported by Bloomberg—was confirmed to The Epoch Times by a White House official, who spoke on condition of anonymity. The official confirmed Bloomberg’s reporting that representatives from Walmart, Home Depot, Lowe’s, and Target are expected to attend the meeting.

Retail giants such as Walmart and Target rely heavily on overseas imports, particularly from China, which remains subject to the Trump administration’s steepest tariffs—including levies of up to 245 percent. The tariffs target what Trump has called the Chinese Communist Party’s (CCP’s) predatory tactics—including currency manipulation, intellectual property theft, forced technology transfers, and market-distorting subsidies that disadvantage U.S. businesses.

Analysts have said that at least some portion of the additional tariff-related costs will likely be passed on to American consumers in the form of higher prices on everyday goods.

Trump announced the tariffs on April 2, with dozens of countries targeted. A 90-day pause was later granted for most countries, but not for China, which was singled out for the highest duties. The move affected U.S. markets and added uncertainty for industries dependent on global supply chains.

More than half of Walmart and Target’s imports come from China, according to company data. Home Depot and Lowe’s also source a significant share of their inventory from Chinese manufacturers. Some market analysts have said the tariffs are likely to erode profit margins across the retail sector.

So far in 2025, Walmart’s stock has gained less than 2 percent, while Home Depot, Lowe’s, and Target have all posted double-digit declines. Target has been the hardest hit, down by around 32 percent year to date.

The meeting comes as the Trump administration seeks to strike new trade agreements with countries affected by the tariffs. Treasury Secretary Scott Bessent has said deals with at least a dozen nations, including Japan, are a top priority.

A key aim of Trump’s tariff policy is to reset global trade and push foreign governments to negotiate bilateral agreements that are fairer to the United States. Despite dozens of countries seeking bilateral deals with the United States, China had refused to negotiate and instead raised its tariffs on American goods to 125 percent.

Trump said on April 17 that China had since contacted his administration to negotiate.

“I believe we’re going to have a deal with China, and if we don’t, we’re going to have a deal anyway, because we will set a certain target, and that’s going to be it,” Trump told reporters at the Oval Office.

Commerce Secretary Howard Lutnick has said that the administration is confident it will strike a deal with China that benefits both nations.