President Donald Trump is hosting retail CEOs at the White House on Monday afternoon. The convening will feature top officials from Walmart, Target, Home Depot, and Lowe’s at the White House. The goal of this particular gathering is to get a better understanding of how Trump’s trade war is affecting the retail industry specifically. Update— It was Bloomberg who first broke the story about this meeting earlier today. The White House refused to include it on the president’s public schedule.
The meeting occurs at a time when Target is indeed caught in a vice. The past four years have seen the retailer stagnate in terms of revenue. This year, according to preliminary projections, sales will be up a paltry 1%. Unfortunately, all of this puts Target in a position of weakness as they’re left to deal with the fallout of ever-changing trade talks.
Walmart seems to be in a better position than almost all of its competitors. As the nation’s largest grocer, approximately two-thirds of Walmart’s products sold in the United States are domestically made, grown, or assembled. One-third of our constituent materials is sourced globally. Our largest suppliers are China and Mexico. Wildlife & Biodiversity This hefty domestic footprint could give Walmart an advantage against some of the trade policy turmoil and uncertainties that lie ahead.
One administration official confirmed the substance of the meeting to CNBC but declined to offer further comment. Walmart did not respond to a request for comment from CNBC beyond confirming its participation in next week’s discussions.
The meeting focuses specifically on trade policies. It highlights the retail industry’s frequent worries about the damaging effects of tariffs on consumer prices. Retailers are deeply attuned to how such policies affect their business and their bottom lines.
Monday’s discussion, REI department store & trade policies will focus on how these industrial trade policies have affected the retail landscape and the local economy today. Major retailers, including Walmart and Target, are already leading the way. Their experience will be highly valuable as the administration continues to seek ways to recalibrate its trade strategy.
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