Two U.S. retailers warned President Trump his sweeping tariff policy could disrupt supply chains and lead to empty shelves in the coming weeks.

President Donald Trump met with major retailers at the White House, as business executives seek relief from sweeping tariffs that have destabilized global supply chains and rattled US consumers.

Key Takeaways The White House says it is close to trade deals with several countries. These deals will likely result in lower tariffs than those announced at the beginning of April.However, the administration could be faced with a time crunch in the coming weeks as it negotiates with at least 57 countries.

President Donald Trump told reporters Tuesday that his 145% tariff on goods from China will come down “substantially.” “145% is very high and it won’t be that high. It’s not going to be that high,” he said,

The Trump administration is mulling steep tariff cuts on China imports, signaling a de-escalation in the trade war. Trump’s reversal lifts investor sentiment.