Trio Of Top US CEOs Warn Trump Tariffs Will Empty Store Shelves: Report

US President Donald TrumpExecutives from three of America’s biggest retail chains warned US President Donald Trump that things could get ugly if his aggressive economic agenda proceeds as planned, according to a new report from Axios.During a private meeting in the Oval Office on Monday, the CEOs of Walmart, Target and Home Depot reportedly told the president that supply chains could freeze and prompt stores’ shelves to go barren if he doesn’t rein in his sharp tariff plans, and meddles with the Federal Reserve.“The big box CEOs flat out told him the prices aren’t going up, they’re steady right now, but they will go up,” an administration official familiar with the meeting told Axios. “And this wasn’t about food. But he was told that shelves will be empty.”According to a separate official briefed on the meeting, Trump was told that if he doesn’t change course, the impact could be noticeable in as little as two weeks.The CEOs words seemed to have some sway on the president.The following day, Trump told reporters that tariffs on China will “come down substantially” from his previously announced 145% rate.He also walked back threats to fire Jerome Powell, the chair of the Federal Reserve.Wall Street rallied in response. As of Wednesday morning, the Dow Jones had sprung up 2.2% while Nasdaq surged 3.5%.Related...Fox News Viewers Get An Uncomfortable Truth About Trump On Live TVTrump Attacks Zelenskyy Yet Again, Accusing Ukraine's President Of 'Inflammatory Statements' Over CrimeaMajor Setback For Ukraine Peace Talks In UK As Trump's Top Diplomat Pulls Out

Comments

Breaking news

Dad of Southport victim running London marathon says he’d run ’50 miles for my girl’

The TRUTH about Hitler's suicide and whether he had one testicle is revealed in bombshell new book detailing Fuhrer's grisly end

Pedro Pascal brands JK Rowling a 'heinous loser' for her cigar-smoking celebration of the Supreme Court trans ruling - as he joins calls for a Harry Potter boycott

Tesco announces major change to 2,000 stores starting this month - is YOUR local affected?

Celebrity Big Brother's JoJo Siwa, 21, insists her partner Kath Ebbs 'won't care' if she shares a bed with Chris Hughes, 32, as she addresses their 'intimate' friendship

Fathers of Southport victims taking part in London Marathon say 'our girls will be with us' as run in their memory

Moment corrupt female police officer is caught kissing jailed criminal she was having an affair with - as she is jailed for nearly four years

Expert warning over common over-the-counter pill that could trigger deadly Victorian disease

Comments

Similar News

Rachel Reeves: There's a deal to be done with Trump that may see tariffs cut on US goods

12 States Sue Trump Over His Tariffs

Asia shares trade mixed as uncertainty persists over Trump's tariff plans

China schools Trump on the art of a tariff deal: Don’t threaten us

On TikTok, Chinese Manufacturers Open a New Line in the Trade War

BBC reporter asks Trump how Canada's election could influence tariffs

The Papers: 'Crimea is lost' and Reeves 'ready to cut tariffs'

Report: Intel to Slash 20% of Staff

Trump on Trade Talks with China: ‘Everybody Wants to Be a Part of What We’re Doing’

Dem Rep. Goldman: Trump's Corrupt Actions Turning America into 'Banana Republic'

Donald Trump's arrogant eight-word remark about Canada reignites fire in bitter row

Trump's Approval Rating Plummets With Nearly All Key Groups: Poll

Tesla sales in Europe fall by almost HALF in three months - despite the continent buying more EVs - as backlash against his role with Trump continues

Trump Sends US Warship to China's Coast

Trump doesn’t want to boost taxes on millionaires because he’s worried they’d leave the country

Iran Warns of Threat to Sabotage U.S. Nuclear Deal

Anonymous Executives Slam Shedeuer Sanders Before NFL Draft

For China’s Trolls, ‘Chairman Trump’ and ‘Eyeliner Man’ Are Easy Targets

Trump signs executive orders targeting colleges, plus schools' equity efforts

Breaking news

Dad of Southport victim running London marathon says he’d run ’50 miles for my girl’

Map shows London Marathon route map and road closures for 2025

Football fan took his own life after feeling shamed from making racist gesture

PHOTO COLLECTION: China Space

China prepares for launch of 3-person space station replacement crew

The supplement that could prevent common heart disease birth defect

Trump complains Zelensky harder to deal with than Russia in peace talks

PHOTO COLLECTION: Vatican Pope Francis Lying in State

PHOTO COLLECTION: Vatican Pope College of Cardinals' Meeting

More than 200 injured after jumping from buildings in 6.2 earthquake in Istanbul

Murderer’s final words to family of victim before he is executed by lethal injection

Middle East latest: Israeli strikes across Gaza kill at least 28 people, Palestinians say

Voices: Poll of the day: Should how much you pay for energy depend on where you live?

The key reasons China holds the edge over the US in Trump’s trade war

JD Vance addresses being one of last people to meet Pope Francis before his death

Crimea: What to know about peninsula at centre of Trump-Zelensky standoff

60 percent of Americans believe the country is ‘on the wrong track’ as trust in Supreme Court plummets

Istanbul residents spend the night outdoors after a strong earthquake and aftershocks

Trans woman to hand out disabled toilet keys after Supreme Court ruling leaves ‘no other option’

London Marathon organisers boycott X over platform’s ‘descent into gutter’ and abuse

Raymond McCourt: Convicted murderer flees open prison as public warned not to approach

Trump tariffs live: Dozens of US states sue to stop ‘insane’ policy as president threatens more global levies

AP PHOTOS: Faithful join the line to pay their final respects to Pope Francis

Grovelling Keir admits treatment of women’s rights campaigners like JK Rowling in trans debate was ‘clearly wrong’

Two boys, 15, arrested over ‘murder’ of elderly couple, 91 & 88, killed in horror house fire

Babestation killer who strangled mum-of-nine, 79, before calling sex chat lines as she lay dying is found dead in prison

Nursery teacher, 29, sacked after pupil’s mum finds her OnlyFans account – when she caught her HUSBAND subscribing to it

Cop caught on camera kissing inmate while still wearing her uniform after enjoying secret fling with TWO criminals

Former WSAZ meteorologist Josh Fitzpatrick arrested after ‘making sex tape and threatening to release it’

Young rugby player becomes third death at hotel pool in five years

Neighbours and The Flying Doctors star Gerard Kennedy dies after glittering career

Tricky puzzle asks 'high IQ' players to spot error in living room in five seconds

Oasis fans conned out of £2m in ticket scams for reunion tour

New West Lothian homes planned for brownfield site despite flooding concerns

West Lothian set to welcome 'vibrant' global fried chicken chain

John Swinney will attend Pope Francis' funeral in Rome on Saturday

Nintendo Switch 2 warning as demand 'far exceeds number that can be delivered'

Deputy first minister visits Hamilton with chief entrepreneur

Almond Valley MSP welcomes rollout of new payment for pensioners by Scottish Government

Police seize cannabis plants worth £43,000 from Wishaw industrial unit

Ofcom sets out new codes to protect children online

'Best' personality quiz sheds light on who you really are based on three simple questions

Jimmy Butler injury: Golden State Warriors star's grisly pelvis contusion in NBA playoffs

Freddie Flintoff's wife given terrifying three-word warning before seeing his injuries

Disgraced cardinal who covered up child sex abuse scandal will close Pope Francis' coffin

Vladimir Putin kills at least 9 in brutal strike on Kyiv as Ukraine peace talks stall

McVitie's Chocolate Digestives celebrate 100th birthday with dazzling light show

American exchange student's thumb ripped off as she tries to protect dogs from pit bull

Female police officer pictured snogging prisoner – then her world came crashing down

Dad's horror as 'fit and healthy' son, 21, becomes third death in hotel pool in 5 years

Typhoid fever symptoms explained amid fears Victorian disease becoming antibiotic resistant

Israel shark attack: Dad-of-4 'tried to fight predators with GoPro as they killed him'

Hidden gem thriller hailed as 'one of best crime dramas EVER' - with viewers 'binge-watching' every single episode

The TRUTH about Hitler's suicide and whether he had one testicle is revealed in bombshell new book detailing Fuhrer's grisly end

Pedro Pascal brands JK Rowling a 'heinous loser' for her cigar-smoking celebration of the Supreme Court trans ruling - as he joins calls for a Harry Potter boycott

Tesco announces major change to 2,000 stores starting this month - is YOUR local affected?

Celebrity Big Brother's JoJo Siwa, 21, insists her partner Kath Ebbs 'won't care' if she shares a bed with Chris Hughes, 32, as she addresses their 'intimate' friendship

Fathers of Southport victims taking part in London Marathon say 'our girls will be with us' as run in their memory