Recently, a big meeting took place where Walmart’s CEO, Doug McMillon, met with former President Donald Trump at his Mar-a-Lago home. This meeting happened just a couple of weeks before Trump’s inauguration, where he will officially start his second term as president on January 20. Other well-known business leaders like Jeff Bezos from Amazon, Mark Zuckerberg from Meta, and TikTok’s CEO Shou Zi Chew have also had meetings with Trump around this time.
A spokesperson for Walmart said that Doug enjoyed catching up with Trump and talked about many important topics. Doug has been the CEO of Walmart since 2014 and has worked with Trump before. He was part of a special group during Trump’s first term that dealt with problems the country faced, like COVID-19.
Walmart is a huge company in America, employing over 1.6 million workers. This means Doug’s insights are important for the whole industry. Although we don’t know exactly what they discussed during their meeting, Doug has previously expressed concern about the tariffs that Trump wants to introduce. These tariffs could lead to higher prices for the things we buy every day.
For example, Trump has proposed a 10% tax on all imports and a 60% tax on goods from China. If these taxes happen, they could raise prices for everyone. Doug said that while Walmart dealt with tariffs before, he is worried about how these costs will affect customers. He wants to keep prices low for shoppers and plans to talk to leaders about being careful with these taxes.
Despite the worries, Walmart’s business is doing well, and its stock prices have risen a lot over the past year. Recently, Yahoo Finance named Walmart its “Company of the Year” for 2024.
Earlier, in December, Jeff Bezos and his fiancée had dinner with Trump, marking their first meeting since Trump was re-elected. Bezos even offered to donate $1 million to help with Trump’s upcoming inauguration. Mark Zuckerberg also dined with Trump recently, showing that their relationship is getting better. This is interesting because Trump has had bad blood with the social media platform Facebook in the past
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