Home Depot says it will keep prices low despite pressure from Trump tariffs

Home Depot is holding firm on its promise to keep prices steady despite mounting pressure from tariffs, even as President Trump escalates his public feud with major retailers like Walmart and Mattel by warning consumers of potential price hikes.The home improvement giant has been quietly working with suppliers to shift production away from China and has pressed vendors to offer price concessions as a way to shield consumers from the financial fallout of the trade war.“We anticipate that 12 months from now, no single country outside the United States will represent more than 10% of our purchases,” Chief Financial Officer Richard McPhail said in an interview with the Wall Street Journal.Unlike several competitors, including Walmart, Home Depot has not revised its financial forecast for 2025.US comparable sales ticked up by 0.2%, with customer transactions rising 2.1% to 394.8 million, according to the company.While weather dampened sales in February, McPhail said strong home values and low unemployment meant shoppers were still spending on renovations.“Homeowners continue to have money to invest in home-improvement projects,” he noted.The company’s resilience stands in contrast to Walmart, which recently told investors it may have to raise prices to offset tariff-related costs.“We probably will not be able to absorb all the pressure that these tariffs are putting on our business,” Walmart CEO Doug McMillon said during a recent earnings call.That comment drew a sharp rebuke from Trump, who posted on social media over the weekend demanding that the retail giant “EAT THE TARIFFS.”He pointed to Walmart’s healthy profits as justification for absorbing the extra costs.

“I’ll be watching, and so will your customers!!!” the president warned.White House officials quickly backed Trump’s stance.“He maintains the position that foreign countries absorb these tariffs,” press secretary Karoline Leavitt told reporters Monday.Treasury Secretary Scott ...