Big Box CEOs To Trump: “Empty Shelves” Are Coming

Axios reports:

President Trump got a scare from CEOs and markets on Monday. On Tuesday, he blunted some of his sharpest threats — signaling a softer stance on China and retreating from fiery rhetoric targeting the Fed. Monday was a tough day for Trump’s goal of reshaping the global economy.

The CEOs of three of the nation’s biggest retailers — Walmart, Target and Home Depot — privately warned him that his tariff and trade policy could disrupt supply chains, raise prices and empty shelves, according to sources familiar with the meeting.

“The big box CEOs flat out told him [Trump] the prices aren’t going up, they’re steady right now, but they will go up. And this wasn’t about food. But he was told that shelves will be empty,” an administration official familiar with the meeting told Axios.

Read the full article. Yesterday CNBC reported that Chinese container ship arrivals at California ports are down 44% as compared to the same period last year.

“He was told that shelves will be empty”: Big retailer CEOs warn Trump that his trade war will cause consumer disruption within weeks. ⁦@MarcACaputo⁩ ⁦@BerkowitzBT⁩ https://t.co/n2shoI1kVg

— Peter Baker (@peterbakernyt) April 23, 2025