WALMART’S CEO has reportedly issued a stark warning to US leaders over unavoidable price changes and empty shelves.
Doug McMillon and other retail executives admitted that supermarkets will see overhaul changes in just two weeks.
According to sources close to the CEOs, the retail leaders opened up about the devastating potential impacts of tariffs in a closed-door conversation with President Donald Trump, CBS News reported.
McMillon and leaders at Target and Home Depot all agreed that the sweeping global fees would create massive supply chain issues and leave shelves barren, sources say.
As of now, Trump’s administration has imposed a 145% tariff on all Chinese goods and is charging nearly every other country 10% on imports.
The president also has a plan to ramp up fees with steep reciprocal tariffs, but those have been paused for 90 days.
After their meeting with the White House on Monday, the brands thanked Trump for hearing their perspectives on the changes.
In a statement, Walmart said, “We had a productive meeting with President Trump and his team and appreciated the opportunity to share our insights.”
Target also described the conversation as “productive” and said, “We remain committed to delivering value for American consumers.”
Although the brands didn’t divulge what happened in the meeting room, they’ve been honest about how tariffs can affect the average consumer.
When Trump was first elected, Walmart CFO John David Rainey admitted that shoppers would pay the extra costs.
He told CNBC, “There probably will be cases where prices will go up for consumers.”
And Target’s CEO Brian Cornell also warned that prices of goods from Mexico would surely see a bump in an interview with CNBC last month.
“If there’s a 25% tariff, those prices will go up,” Cornell said.
TARIFF FEARS
Tea, avocados, sneakers, home furniture, bananas, video games, clothes, toys, and foreign-made cars are all expected to become much more expensive under Trump’s trade plan.
In a disturbing comment, billionaire Mark Cuban warned that companies may start charging more even if a product isn’t affected.
“Even if it’s made in the USA, they will jack up the price and blame it on tariffs,” he wrote on BlueSky.
Countries are racing to strike a deal with the US before the 90-day reciprocal tariff pause runs out, according to the White House.
Trump has insisted that his overhaul plan will bring an economic boon to America, and believes his charges to other countries promote global fairness.
On Tuesday, he praised negotiation efforts and predicted that the 145% levy on Chinese goods will “come down substantially.”
“But it won’t be zero,” he said.
President Trump's Reciprocal Tariffs
Reciprocal tariffs per country, which includes the 10% baseline fee:
China: charges the US 67% tariffs, the US will counter with 34% reciprocal tariffs. European Union: charges the US 39% tariffs, the US will counter with 20% reciprocal tariffs. Vietnam: charges the US 90% tariffs, the US will counter with 46% reciprocal tariffs. Taiwan: charges the US 64% tariffs, the US will counter with 32% reciprocal tariffs. Japan: charges the US 46% tariffs, the US will counter with 24% reciprocal tariffs. India: charges the US 52% tariffs, the US will counter with 26% reciprocal tariffs. South Korea: charges the US 50% tariffs, the US will counter with 25% reciprocal tariffs. Thailand: charges the US 72% tariffs, the US will counter with 36% reciprocal tariffs. Switzerland: charges the US 61% tariffs, the US will counter with 31% reciprocal tariffs. Indonesia: charges the US 61% tariffs, the US will counter with 32% reciprocal tariffs. Malaysia: charges the US 47% tariffs, the US will counter with 24% reciprocal tariffs. Cambodia: charges the US 97% tariffs, the US will counter with 49% reciprocal tariffs. United Kingdom: charges the US 10% tariffs, the US will respond with a 10% baseline fee. South Africa: charges the US 60% tariffs, the US will counter with 30% reciprocal tariffs. Brazil: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Bangladesh: charges the US 74% tariffs, the US will counter with 37% reciprocal tariffs. Singapore: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Israel: charges the US 33% tariffs, the US will counter with 17% reciprocal tariffs. Philippines: charges the US 34% tariffs, the US will counter with 17% reciprocal tariffs. Chile: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Australia: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Pakistan: charges the US 58% tariffs, the US will counter with 29% reciprocal tariffs. Turkey: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Sri Lanka: charges the US 88% tariffs, the US will counter with 44% reciprocal tariffs. Colombia: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Peru: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Nicaragua: charges the US 36% tariffs, the US will counter with 18% reciprocal tariffs. Norway: charges the US 30% tariffs, the US will counter with 15% reciprocal tariffs. Costa Rica: charges the US 17% tariffs, the US will counter with 10% reciprocal tariffs. Jordan: charges the US 40% tariffs, the US will counter with 20% reciprocal tariffs. Dominican Republic: charges the US 10% tariffs, the US will respond with a 10% baseline fee. United Arab Emirates: charges the US 10% tariffs, the US will respond with a 10% baseline fee. New Zealand: charges the US 20% tariffs, the US will counter with 10% reciprocal tariffs. Argentina: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Ecuador: charges the US 12% tariffs, the US will counter with 10% reciprocal tariffs. Guatemala: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Honduras: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Madagascar (Burma): charges the US 88% tariffs, the US will counter with 44% reciprocal tariffs. Tunisia: charges the US 55% tariffs, the US will counter with 28% reciprocal tariffs. Kazakhstan: charges the US 54% tariffs, the US will counter with 27% reciprocal tariffs. Serbia: charges the US 74% tariffs, the US will counter with 37% reciprocal tariffs. Egypt: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Saudi Arabia: charges the US 10% tariffs, the US will respond with a 10% baseline fee. El Salvador: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Côte d’Ivoire: charges the US 41% tariffs, the US will counter with 21% reciprocal tariffs. Laos: charges the US 95% tariffs, the US will counter with 48% reciprocal tariffs. Botswana: charges the US 74% tariffs, the US will counter with 37% reciprocal tariffs. Trinidad and Tobago: charges the US 12% tariffs, the US will counter with 10% reciprocal tariffs. Morocco: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Moldova: charges the US 61% tariffs, the US will counter with 31% reciprocal tariffs. Angola: charges the US 63% tariffs, the US will counter with 32% reciprocal tariffs. Democratic Republic of the Congo: charges the US 22% tariffs, the US will counter with 11% reciprocal tariffs. Jamaica: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Mozambique: charges the US 31% tariffs, the US will counter with 16% reciprocal tariffs. Paraguay: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Zambia: charges the US 33% tariffs, the US will counter with 17% reciprocal tariffs. Lebanon: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Tanzania: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Iraq: charges the US 78% tariffs, the US will counter with 39% reciprocal tariffs. Georgia: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Senegal: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Azerbaijan:charges the US 10% tariffs, the US will respond with a 10% baseline fee. Cameroon: charges the US 22% tariffs, the US will counter with 11% reciprocal tariffs. Uganda: charges the US 20% tariffs, the US will counter with 10% reciprocal tariffs. Albania: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Armenia: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Nepal: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Sint Maarten: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Falkland Islands: charges the US 82% tariffs, the US will counter 41% with reciprocal tariffs. Gabon: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Kuwait: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Togo: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Suriname: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Belize: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Algeria: charges the US 59% tariffs, the US will counter with 30% reciprocal tariffs. Oman: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Uruguay: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Bahamas: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Lesotho: charges the US 99% tariffs, the US will counter with 55% reciprocal tariffs. Ukraine: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Bahrain: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Qatar: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Mauritius: charges the US 80% tariffs, the US will counter with 40% reciprocal tariffs. Fiji: charges the US 63% tariffs, the US will counter with 32% reciprocal tariffs. Iceland: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Kenya: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Liechtenstein: charges the US 73% tariffs, the US will counter with 37% reciprocal tariffs. Guyana: charges the US 76% tariffs, the US will counter with 38% reciprocal tariffs. Haiti: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Bosnia and Herzegovina: charges the US 70% tariffs, the US will counter with 35% reciprocal tariffs. Nigeria: charges the US 27% tariffs, the US will counter with 14% reciprocal tariffs. Namibia: charges the US 42% tariffs, the US will counter with 21% reciprocal tariffs. Brunei: charges the US 47% tariffs, the US will counter with 24% reciprocal tariffs. Bolivia: charges the US 20% tariffs, the US will counter with 10% reciprocal tariffs. Panama: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Venezuela: charges the US 29% tariffs, the US will counter with 15% reciprocal tariffs. North Macedonia: charges the US 65% tariffs, the US will counter 33% with reciprocal tariffs. Ethiopia: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Ghana: charges the US 17% tariffs, the US will counter with 10% reciprocal tariffs.The full list was shared on by the White House’s rapid response team on X.
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