When President Trump’s high tariffs threatened to raise iPhone prices significantly, Apple’s CEO, Tim Cook, reached out to the White House and quickly secured a break for his company and the electronics sector.
Almost immediately, top advisors to Trump insisted they had not deviated from their pledge to apply import taxes broadly with few exceptions. However, this exemption drew attention from businesses nationwide, prompting a new rush for similar assistance amid a global trade conflict.
Recently, major lobbying groups from agriculture, construction, manufacturing, retail, and technology sectors have appealed to the White House to ease more tariffs, arguing that some products must be imported because they are either too costly or impractical to make in the U.S.
On Monday, executives from retailers such as Home Depot, Target, and Walmart were the latest to directly express their worries to Trump, as the industry braces for potential price hikes on imports that could affect millions of American consumers.
“We had a constructive meeting with President Trump and our retail colleagues to talk about the way forward on trade, and we remain focused on providing value for American consumers,” stated Jim Joice, a spokesman for Target.
Doug McMillon, CEO of Walmart, has previously noted the many “factors” surrounding Trump’s tariffs and retail prices. A spokeswoman for Walmart confirmed Monday’s meeting, describing the discussions as “productive.” Other companies did not respond to requests for comments.
“It seems the door for negotiations may be ajar,” said David French, executive vice president for government relations at the National Retail Federation, in a recent interview. He indicated that his industry has sought to speak with Trump and his team to convey that “consumers are very concerned about what they expect in terms of rising prices.”
Many businesses express a desire to meet the president’s requirements and start producing or sourcing more of their products domestically. However, they have also communicated that they cannot quickly reorganize their complex global supply chains, especially if hefty import taxes on machinery and key components lead to significantly higher production expenses.
“We urge the administration to identify specific manufacturing inputs we need to produce goods in America,” said Charles Crain, managing vice president for policy at the National Association of Manufacturers, which includes executives from Caterpillar, Dow Inc., Pfizer, and Toyota on its board.
Kip Eideberg, senior vice president for government relations at the Association of Equipment Manufacturers, mentioned his group “made the case to the administration that if they want their expressed goals of boosting U.S. manufacturing and enhancing global competitiveness to come to fruition, then relief is necessary.”
His association represents a wide range of agricultural and construction equipment companies, advocating for a “blanket, no-tariff policy on essential parts and components that are critical and cannot be sourced at scale elsewhere.”
Currently entrenched in a global trade conflict, Trump has sent out mixed signals regarding what he term a “flexible” tariff strategy.
Last week, Trump admitted that he had “assisted” Apple at Cook’s request, avoiding a new tariff of about 145 percent on U.S. imports from China that currently applies to iPhones. Speaking to reporters, the president stated, “I don’t wish to harm anyone.”
However, the Trump administration took initial formal steps to implement specific tariffs on semiconductors, the memory chips that power iPhones and other devices, as well as the machinery used to manufacture these items, indicating any relief for Apple might be temporary.
On the same day, Trump suggested he might provide similar assistance to automakers, who are currently facing a 25 percent tariff on cars and auto parts entering the U.S. He acknowledged that the industry would “need some time” to start manufacturing vehicles and parts in America, a statement that caused shares of car manufacturers to rise immediately.
No announcements for such relief have been made yet. However, Trump’s advisors have shown a renewed willingness to discuss exemptions on tariffs. Over the past month, officials from the Domestic Policy Council and others in the government have occasionally asked business associations for lists of materials and machinery that cannot be quickly and readily produced in the U.S., according to two individuals familiar with these private discussions, who requested anonymity.
“The administration keeps regular communication with business leaders, industry groups, and everyday Americans regarding our trade and economic policies,” wrote Kush Desai, a spokesman for the White House, in a statement. “President Trump has made it clear: If you’re worried about tariffs, the solution is simple. Make your product in America.”
For now, the president and his team are primarily focused on negotiating several bilateral trade agreements with numerous countries that the administration claims engage in unfair trade practices, including imposing tariffs and other restrictions on American goods. This month, Trump announced stringent tariffs on nearly all of America’s trade partners, including India, Japan, South Korea, Vietnam, and the European Union, although he paused those tariffs for 90 days to allow for negotiations.
On Monday, Vice President JD Vance met with India’s Prime Minister, Narendra Modi, as the White House works to finalize “90 deals in 90 days,” as some of Trump’s aides have mentioned. Without an agreement, India may face a 26 percent “reciprocal” tariff rate.
Even without immediate trade agreements, Trump has touted his approach as a success, claiming his policies have attracted trillions of dollars in private investment from firms like Apple, OpenAI, and Nvidia.
“Since announcing LIBERATION DAY, many world leaders and business executives have approached me seeking relief from tariffs,” the president shared on Truth Social.
On Sunday, Mr. Trump stated, “It’s great to see that the world recognizes our seriousness, because WE ARE!”
He further remarked, “For those looking for the easiest route: Come to America and build here!”
However, the situation is quite complex. Initial reports indicate that some businesses have actually reduced their expenditures due to worries that tariffs might lead to increased costs for raw materials. An April survey from the Federal Reserve Bank of New York revealed that manufacturing activity in the area had declined for the second month in a row, with firms expressing concerns that “conditions may deteriorate in the upcoming months.”
Various business organizations have shared these concerns, cautioning the White House that U.S. companies might struggle to achieve their domestic investment goals if economic conditions decline. These businesses could find it challenging to create new factories and jobs as promised without stable financial markets, a capable workforce, and access to essential materials and machinery—all of which may be affected by the recent tariffs enacted by the president.
