2026 Trend – Retail organises itself in the face of the Trump trade war

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(Trend 4/6) Invested as President for a second term in 2025, Donald Trump has shaken global trade. Between higher customs duties, a tax on small parcels, attacks on diversity and inclusion policies alongside a government budget shutdown, US and European retail is reorganising to limit the impact on prices, margins and employment in a context of increased instability.
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The context

Sworn in as President on January 20, 2025, Donald Trump signed an Executive Order aimed at abolishing Diversity, Equity and Inclusion (D.E.I.) programmes within the federal administration and encouraging abandonment by large companies. While this order pushed several retail and tech retailers such as Target, Meta, Walmart and McDonald’s to review or give up such initiatives the world’s n°2 food retailer Costco decided to maintain commitments despite attacks from 19 States.

After D.E.I

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