Donald Trump to Meet with Major Retailers After Big Retail Opposed Tariffs
Share this @internewscast.com

President Donald Trump will meet with major retailers on Monday after the National Retail Federation (NRF) announced it does not back the president’s reciprocal tariff policies.

A White House official told Reuters that the president will meet Monday afternoon to discuss his tariff policies; the meeting will includes representatives from Walmart, Home Deport, Lowe’s, and Target. Walmart confirmed that its CEO, Doug McMillon, would attend the meeting.

More than half of Walmart’s imports are from China, while Home Deport and Lowe’s also import from the country.

A March report found that Target relies on China for 30 percent of its merchandise, and the Alliance for American Manufacturing stated that Chinese goods comprise 70 to 80 percent of Walmart’s merchandise, leaving less than 20 percent for American-made products.

In late March, Target reportedly pushed its Chinese suppliers to absorb some of the cost of Trump’s tariffs, following the lead of Walmart and Costco.

Quartz reported in late March:

In one case, a Chinese supplier of hairpins and claw clips said Target (TGT) requested they “pick up half the costs of the tariffs.” After attempting to negotiate, the supplier saw delays in their order and ultimately lost the business. Target has not responded to Quartz’s multiple requests for comment.

Currently, there is a 20% tariff on all Chinese imports, impacting around $430 billion worth of goods. Target does not operate any physical stores in mainland China, but says it has worked to reduce its reliance on Chinese imports, cutting the share of its goods from China from 60% to 30%.

After Trump announced his reciprocal tariff policies, the National Retail Federation, the trade association for the largest retail corporations, said that tariffs would lead to higher costs.

“Tariffs are a tax paid by the U.S. importer that will be passed along to the end consumer. Tariffs will not be paid by foreign countries or suppliers,” David French, its government affairs lead, said in a written statement.

As – News has frequently reported, economists at the Federal Reserve and the National Bureau of Economic Research (NBER) found minimal pass-through into broad inflation.

“President Trump has a mandate from the American people: bring jobs home, end our dependence on China, and restore American manufacturing. Big Retail is now seeing  the cost of inaction as they fail to get on board with the America First agenda,” a Republican operative told – News in a statement. “Americans made it clear they support American manufacturing, and Big Retail will pay the price if they continue to outsource to China,” a Republican operative told – News in a statement.

Share this @internewscast.com
You May Also Like

Taylor Swift and Travis Kelce’s Unexpected Appearance at the Stanley Cup Final Stuns Fans

Taylor Swift and Travis Kelce surprised hockey fans by unexpectedly attending Thursday’s…

The Role of Covert Operations in Facilitating Strategic Airstrikes on Iran

Israel carried out a powerful attack on Iran overnight, targeting 100 sites,…

NBC’s Engel: Iran Preferred Peace, But Hardliners Feel Validated by Israel’s Actions

On Thursday’s broadcast of MSNBC’s “The Briefing,” NBC News Chief Foreign Correspondent…

Famed NFL running back discloses experiencing a heart attack

Barry Sanders, the Pro Football Hall of Famer and Heisman Trophy winner,…

British Passengers on Board Air India Crash: Fears for Lives in Tragic Incident

A family of three, a wellness influencer couple, and an esteemed hotel…

US Warns of Possible Imminent Israeli Strike on Iran’s Nuclear Facilities

It has been suggested that Israel is gearing up to target Iran’s…

Tourist in Underwater Struggle Captured in Viral Video

An underwater excursion nearly turned into a disaster for a tourist exploring…

Fiat Breaks Electric Vehicle Charging Barrier with 5-Minute Battery Refill Solution

Italian automotive leader Fiat is set to transform the electric vehicle landscape…

Loud Explosions Heard in Tehran Amid Reports of Targeted Strikes on Nuclear Facilities

Israel has launched preemptive strikes against Iran and a state of emergency has…

Emotional Eric Dane Opens Up About ALS Diagnosis

Eric Dane is speaking out for the first time since going public…

Statewide Alarm as CVS Sends Store Closure Alerts by Text

Louisiana citizens were both puzzled and slightly alarmed when CVS dispatched unsettling…

Legendary Truck Manufacturer Apologizes and Revives Beloved Classic Model

Ram is bringing back a rumbling, gas-guzzling V-8 engine.  Months after phasing out…