Walmart, Target, and Home Depot CEOs privately warned President Trump in a meeting that his tariff and trade policy could disrupt supply chains, raise prices, and empty shelves.
The CEOs assured Trump that prices are not going to increase, but they will rise. Home Depot’s current CEO, Ed Decker, warned the president about the impact of his tariffs, while Decker’s predecessor, Bob Nardelli, cheered them on in an interview with Fox Business News. Nardelli said that if Trump pulls this off, it could be one of the most pervasive and positive initiatives the administration could do for the US long term.
On the same day the Walmart, Target, and Home Depot CEOs met with Trump, the president began softening his tone on tariffs, saying he wants a “fair deal” with China and that the 145% tariffs he imposed on China will eventually “come down substantially.”
This back-and-forth comes against a backdrop where Trump has seen his approval sag on his economic strategy, with more of the U.S. public now disapproving of his handling of the economy than approves, marking the first time he has been underwater on that issue.