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Retail CEOs Short On Details After Trump Visit

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Retail CEOs Short On Details After Trump Visit

Retail stocks are off to a poor start in 2017, so the last thing they want is the implementation of President Trump's proposed border tax that could make products more expensive for consumers.

Trump invited a group of retail and department store CEOs to the White House on Wednesday to share their concerns with the president's team firsthand. Following the meeting, AutoZone, Inc. (NYSE: AZO) CEO William Rhodes discussed what happened inside the White House.

Rhodes started off by stating as a retail industry veteran with over two decades of experience, he has never had the opportunity to meet with the president in the White House.

"We had that opportunity today, and we are grateful for that opportunity," Rhodes said.

He said the meeting was "very positive" and focused on the central role the retail industry plays in the American economy. Specifically, the retail sector accounts for and plays a role in maintaining more than 40 million jobs across the country.

Related Link: Analyst Sees Odds Of U.S. Border Tax Passage Increasing To 75%

Unfortunately, Rhodes didn't offer any specifics as to what was discussed in the meeting - including any update on a border tax or the controversial travel ban from predominately Muslim countries.

"We look forward to carrying on the conversation with the president and his team as we continue to look to move the interests of our industry, our employees, and most importantly, the consumers - the hardworking American consumers - that we all serve," the executive concluded.

 

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