Trump to Meet Walmart, Target Executives as Tariff Angst Spreads
Supply Lines is a daily newsletter that tracks global trade. .
President Donald Trump is set to meet with major retailers at the White House to discuss the impact of sweeping tariffs on their businesses.
The Monday meeting includes representatives from Walmart Inc., Home Depot Inc., Lowe's Cos. and Target Corp., according to people familiar with the plans. The discussion comes amid a 90-day pause in Trump's higher tariffs on trading partners except China that dozens of foreign leaders and business executives are using to negotiate relief.
Home Depot said it works with administrations from 'both sides of the aisle' and that it will keep meeting with leaders at all levels of government. Target had no immediate comment. Lowe's did not respond to a request for comment. Walmart declined to comment.
The duties have rattled consumers worried about higher prices, creating anxiety for companies that source goods from outside the country, particularly from China. Some corporations have warned that business could slow in the months ahead as the import taxes go into place.
In addition to the cavalcade of overseas officials seeking lower tariffs, Trump has indicated he would be open to negotiating on rates with corporate leaders.
'We'll also talk to companies. You know, you have to show a certain flexibility. Nobody should be so rigid,' the US president told reporters on April 13.
Americans have been rushing to purchase items like cars, electronics and appliances before Trump's levies take full effect, according to economic data. US retail sales surged 1.4% in March from the previous month, the biggest jump in more than two years, according a Commerce Department report. Auto purchases increased by 5.3% as buyers sought to avoid 25% tariffs on finished vehicles that went into place on April 3.
The March data captured spending before Trump announced, then subsequently paused high tariffs on nations across the world, and before he hiked levies on many Chinese goods to 145%. But the report offers insight on consumers' mindset at a time of high uncertainty about future prices.
With assistance from Matt Townsend and Jennifer A. Dlouhy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
20 minutes ago
- Economic Times
Rare earths and magnets minerals elements: Why are these giving China edge in trade war with USA?
Rare-earth magnet Synopsis Rare earths and magnets minerals elements have hogged all the limelight during the US-China trade war. US-China trade deal has finally been chalked out, according to President Donald Trump. Analysts have claimed that China was counting on one crucial advantage as it strived to grind out a deal to ease its high-stakes trade war with the United States -- dominance in rare earths. Now question arises how rare earths have become a key sticking point in talks between the US and China. ADVERTISEMENT Rare Earths Minerals Elements Used in electric vehicles, hard drives, wind turbines and missiles, rare earth elements are essential to the modern economy and national defence, AFP reported. "The Middle East has oil. China has rare earths," Deng Xiaoping, the late Chinese leader whose pro-market reforms set the country on its path to becoming an economic powerhouse, said in 1992. Since then, Beijing's heavy investment in state-owned mining firms and lax environmental regulations compared to other industry players have turned China into the world's top supplier, as per AFP now accounts for 92 percent of global refined output, according to the International Energy the flow of rare earths from China to manufacturers around the world has slowed after Beijing in early April began requiring domestic exporters to apply for a licence -- widely seen as a response to US tariffs. ADVERTISEMENT Under the new requirements -- which industry groups have said are complex and slow-moving -- seven key elements and related magnets require Beijing's approval to be shipped to foreign buyers. Why Does USA Need Rare Earths? ADVERTISEMENT Ensuring access to the vital elements became a top priority for US officials in talks with Chinese counterparts."The rare earth issue has clearly... overpowered the other parts of the trade negotiations because of stoppages at plants in the United States," said Paul Triolo, a technology expert at the Asia Society Policy Institute's Center for China Analysis, in an online seminar on Monday. ADVERTISEMENT That disruption, which forced US car giant Ford to temporarily halt production of its Explorer SUV, "really got the attention of the White House", said reportedly rely on Chinese rare earths for producing its defence equipment even as trade and geopolitical tensions deepen. ADVERTISEMENT An F-35 fighter jet contains over 900 pounds (more than 400 kilograms) of rare earth elements, noted a recent analysis by Gracelin Baskaran and Meredith Schwartz of the Critical Minerals Security Program at the Center for Strategic and International Studies. China has Largest Reserves Pentagon is trying to catch up, with its "mine-to-magnet" strategy aiming to ensure an all-domestic supply chain for the key components by 2027. The challenge facing Washington to compete with Beijing in rare earths is compounded by sheer luck: China sits on the world's largest reserves. Q1. Who is President of USA?A1. President of USA is Donald Trump. Q2. What are usage of Rare earths and magnets? A2. Used in electric vehicles, hard drives, wind turbines and missiles, rare earth elements are essential to the modern economy and national defence, AFP reported. (You can now subscribe to our Economic Times WhatsApp channel) (Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates. Rare earths and magnets minerals elements: Why are these giving China edge in trade war with USA? Rare earths and magnets minerals elements: Why are these giving China edge in trade war with USA? Horoscope today, June 12, 2025: powerful daily zodiac predictions for love, career, and money — big revelations ahead for Gemini, Capricorn, Pisces, Aries, and Libra you won't want to miss Horoscope today, June 12, 2025: powerful daily zodiac predictions for love, career, and money — big revelations ahead for Gemini, Capricorn, Pisces, Aries, and Libra you won't want to miss Yes, Taylor Swift eats fast food too — here's the go-to spots she loves and exactly what she likes to order Yes, Taylor Swift eats fast food too — here's the go-to spots she loves and exactly what she likes to order Elon Musk says yes to impeaching Trump — and now 2025 odds are soaring on crypto betting markets Elon Musk says yes to impeaching Trump — and now 2025 odds are soaring on crypto betting markets Fans heartbroken: Beach Boys' Brian Wilson dies at 82 — you won't believe the legacy he leaves behind Fans heartbroken: Beach Boys' Brian Wilson dies at 82 — you won't believe the legacy he leaves behind Sabrina Carpenter drops surprise news — new album 'Man's Best Friend' coming soon after 'Short n' Sweet' Sabrina Carpenter drops surprise news — new album 'Man's Best Friend' coming soon after 'Short n' Sweet' Elon Musk endorses Warren Buffett's 5-minute plan to erase the deficit — bold idea gains momentum Elon Musk endorses Warren Buffett's 5-minute plan to erase the deficit — bold idea gains momentum Is Angelina Jolie and Brad Pitt's 20-year-old daughter, Zahara, engaged? Diamond ring sparks rumors Is Angelina Jolie and Brad Pitt's 20-year-old daughter, Zahara, engaged? Diamond ring sparks rumors Hollywood Vs AI: What is Midjourney? Here's all details about Disney and NBCUniversal suit against AI firm over copyright infringement Hollywood Vs AI: What is Midjourney? Here's all details about Disney and NBCUniversal suit against AI firm over copyright infringement Ex-Ubisoft execs on trial in France for workplace harassment, including bizarre claims of farting at staff NEXT STORY
New Indian Express
an hour ago
- New Indian Express
Trump says China deal 'done', Beijing to supply rare earths
President Donald Trump announced Wednesday that the United States will get magnets and rare earth minerals from China under a new trade deal and that tariffs on Chinese goods will rise to 55 per cent.
&w=3840&q=100)
Business Standard
an hour ago
- Business Standard
US-loaded ethane vessel heads to India after China export curbs
An ethane tanker that loaded in the United States headed to India on Wednesday, ship tracking data showed, after Washington required US exporters to seek licenses to ship the shale gas to top buyer China. Around half of all US ethane exports head to China, where it is used by the petrochemical industry. The vessel's change in destination underscores how the fallout from trade tensions between the United States and China is shifting ethane flows. Liberia-flagged STL Qianjiang, which loaded at Energy Transfer's Nederland terminal for China's Satellite Chemical , signaled Dahej, a port on the West Coast of India, as its destination, according to LSEG and Kpler ship tracking data. The final buyer of the cargo is India's Reliance Industries, Kpler data showed, citing the vessel's bill of lading. The ship has traversed only between the United States and Satellite Chemical's Lianyungang petrochemical facility since July 2022, according to historic data on Kpler. Energy Transfer, Satellite Chemical and Reliance did not immediately reply to a request for a comment. Energy Transfer and Enterprise Products Partners, two of the top US ethane producers and exporters, said they have received letters from the US Commerce Department requiring the companies to apply for a license to ship ethane to China. Enterprise said it also received a notice from the US government of its intent to deny emergency requests for three proposed export cargoes of ethane totaling around 2.2 million barrels to China. Chinese petrochemical firms use ethane as a feedstock because it is a cheaper alternative than naphtha, while US oil and gas producers need China to buy their natural gas liquids as domestic supply exceeds demand.
