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Trump meets with Walmart and Target over tariffs
Trump has met with some of America’s largest retailers, including Walmart and Target to discuss his intention to impose tariffs on a wide range of imported goods, which will inevitably lead to higher prices for US shoppers. The post Trump meets with Walmart and Target over tariffs appeared first on Global Cosmetics News.
THE WHAT? Trump has met with some of America’s largest retailers, including Walmart and Target to discuss his intention to impose tariffs on a wide range of imported goods, which will inevitably lead to higher prices for US shoppers.
THE DETAILS Large US chains rely heavily on imported goods; more than half of Walmart’s and Target’s imports hail from China, which faces the biggest levies. Details of the meeting itself are yet to emerge. A spokesperson for Walmart told Reuters, “We had a productive meeting with President Trump and appreciated the opportunity to share our insights.”
THE WHY? Trump’s tariffs have sent markets into turmoil and financial analysts have warned they risk causing a further jump in inflation, exacerbating the cost of living crisis, hitting already stretched profit margins. Target’s shares are down 32 percent this year, while Walmart stock has inched up by less than 2 percent.
The post Trump meets with Walmart and Target over tariffs appeared first on Global Cosmetics News.
