Walmart & Target CEOs Warn Trump: Tariffs Will Leave Shelves Empty

Inside the Oval Office on April 21, 2025, the CEOs of Walmart, Target, Home Depot, and Lowe’s privately warned President Trump that his sweeping tariff policy—especially the 145% levies on Chinese imports—could freeze supply chains and leave American store shelves bare in the coming weeks, Retail leaders stressed that these tariffs would force price hikes on everyday goods, squeezing household budgets already strained by inflation, After hearing the stark prognosis, President Trump softened his stance, signaling a willingness to negotiate lower tariffs with China to avert a retail crisis, Markets responded positively, with major indexes climbing as investors bet on a thaw in the U.S.–China trade war and the prospect of stabilizing consumer prices. Click now for an exclusive breakdown of what happened behind closed doors and what it means for your wallet.