The president is expected to announce on Tuesday that he will sell his brands to Walmart and buy the American Beauty brand, the Wall Street Journal reported.
The deal would allow Trump to reduce the cost of goods and services he sells in an effort to make up for the steep price of prescription medications and other medical expenses.
Trump has used the company to expand his brand in the United States and abroad.
The president has said that his decision is part of his effort to boost the bottom line and that the companies are in a position to keep costs low.
The decision to sell brands will allow him to cut costs and boost profitability.