In an effort to protect consumers from the effects of global trade wars and tariffs, the retail behemoth is providing free resources to thousands of homegrown entrepreneurs.
The new four-step program, dubbed “Grow with US,” allows small American businesses to grow by providing a plethora of tools to help them expand.
These include free training, mentoring, and retail expertise to assist in getting products stocked nationwide.
Walmart US CEO and president John Furner told Axios that “we anticipate thousands of small businesses will take advantage of these free resources in the coming years.”
The move is part of Walmart’s $350 billion pledge made in 2021 to invest in US-made products.
It predicts that this commitment will generate 750,000 jobs by the end of the decade.
According to CFO John David Rainey, more than two-thirds of the products sold in Walmart stores in the United States are already sourced domestically.
However, with China and Mexico still major players in its supply chain, Walmart is eager to expand its American-made offerings.
The new program is also linked to Walmart’s “Open Call 2025,” which is an annual opportunity for small and medium-sized businesses to pitch their products to the company.
This year’s event will be held on October 7 and 8 in Bentonville, Arkansas, with applications opening on June 24.
Similar initiatives in Mexico and India have helped over 70,000 small businesses grow globally.
“Investing in small businesses leads to a better shopping experience, more choice for our customers, and stronger communities,” says Furner.
This comes as Walmart’s CEO reportedly issued a stern warning to US leaders about unavoidable price increases and empty shelves.
Doug McMillon and other retail executives admitted that supermarkets will undergo significant changes in just two weeks.
Following their meeting with Trump at the White House on Monday, the brands expressed gratitude for hearing their perspectives on the changes.
What items will be affected by the tariffs?
AMERICANS should prepare to see significant prices changes on everything from avocados to cars under President Donald Trump’s new global tariffs.
Here is a list of some of the everyday products that could see a massive price tag surge.
- Coffee
- Tea
- Bananas
- Foreign-made cars
- Sneakers
- Furniture and other home goods
- Pharmaceuticals
- Video games
- Clothing
- Toys
- Washers and dryers
- Avocados
- Housing materials
Walmart released the following statement: “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 stated, “We remain committed to delivering value for American consumers.”
Although the executives did not reveal what occurred in the meeting room, they have been open about how tariffs can affect the average consumer.
When Trump was first elected, Walmart CFO John David Rainey admitted that customers would cover the additional costs.
He stated to CNBC: “There probably will be cases where prices will go up for consumers.”
In an interview with CNBC last month, Target CEO Brian Cornell also warned that prices for Mexican goods would almost certainly rise.
“If there is a 25% tariff, those prices will go up,” Cornell said.
TARIFF FEARS
Tea, avocados, sneakers, home furnishings, bananas, video games, clothing, toys, and foreign-made automobiles are all expected to become significantly more expensive under Trump’s trade policy.
In a disturbing statement, billionaire Mark Cuban warned that companies may begin charging more even if a product is not affected.
“Even if it is made in the USA, they will jack up the price and blame it on tariffs,” he wrote on the BlueSky website.
Countries are racing to reach an agreement with the US before the 90-day reciprocal tariff pause expires, according to the White House.
Trump has insisted that his overhaul plan will benefit America’s economy and that his charges against other countries promote global fairness.
On Tuesday, he praised negotiations and predicted that the 145% tariff on Chinese goods would “come down substantially.”
“But it will not be zero,” he explained.