Hennion & Walsh Asset Management President and CIO Kevin Mahn weighs in on market reaction to tariff and trade negotiations, Federal Reserve Chair Jerome Powell’s remarks at the Economic Club of Chicago and gives his outlook for earnings.
The chief executives of Walmart and Target met with President Donald Trump on Monday to discuss ongoing trade negotiations with other nations and the impact of tariffs imposed on imported products.
Walmart CEO Doug McMillon spoke with the president about the tariffs and their impact on the retail industry during the meeting at the White House, a source familiar with the matter told FOX Business. McMillon previously discussed a range of topics, including investing in the U.S., trade relations and innovation, with Trump in January before he was sworn into office.
A Walmart spokesperson said the meeting with Trump and his team was “productive,” and that the company appreciated the chance to share its insights.
Walmart CEO Doug McMillon met with President Donald Trump and other retail executives at the White House on Monday. (Ethan Miller / Getty Images)
HONDA CONSIDERS MOVING SOME MEXICO, CANADA PRODUCTION TO US DUE TO TARIFFS: REPORT
Target spokesperson Jim Joice also described CEO Brian Cornell’s meeting with Trump and other retail leaders as “productive,” noting that they discussed a “path forward on trade.”
“We remain committed to delivering value for American consumers,” Joice said.
Target CEO Brian Cornell also met with President Donald Trump at the White House on Monday. (Joshua Roberts / Reuters Photos)
Home Depot CEO Ted Decker was also in attendance, though Lowe’s CEO Marvin Ellison was not.
TRUMP’S TARIFFS WOULD DRIVE UP CONSUMER PRICES: NATIONAL RETAIL FEDERATION
Trump is in the midst of negotiations with countries rushing to lock down bilateral trade deals during the 90-day pause on his tariff plan. Some 75 countries have now reached out wanting to negotiate with the White House on trade deals, and 15 countries are in active negotiations, according to trade advisor Kevin Hassett.
Ticker Security Last Change Change % WMT WALMART INC. 92.41 -0.81
-0.87%
TGT TARGET CORP. 93.78 +0.67
+0.72%
HD THE HOME DEPOT INC. 346.90 -8.16
-2.30%
LOW LOWE’S COMPANIES INC. 212.77 -6.23
-2.84%
In the meantime, he announced that all nations that had not retaliated against the U.S. would face a 10% tariff except China. Trump increased the levies on Chinese imports to 145%, prompting the country to retaliate and raise its duties on American goods to 125%.
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