Overview

• President Trump held a White House meeting with executives from Walmart, Target, Home Depot, and Lowe’s on April 21 to discuss the impact of his tariff policies.
• Retail leaders described the meeting as productive and reiterated calls for more predictable trade policies and targeted tariff exemptions.
• The Trump administration is reviewing its 'reciprocal' tariff framework, which currently imposes up to 145% duties on Chinese imports while pausing tariffs on other trade partners for 90 days.
• Major U.S. retailers emphasized their heavy reliance on Chinese imports and warned that steep tariffs are driving up consumer prices and straining supply chains.
• The National Retail Federation has voiced concerns that heightened tariffs will disproportionately burden American consumers and businesses, urging swift policy adjustments.