Target doubles profit, boosted by $1 billion tariff refund - Star Tribune
Target Corporation reported a nearly $1 billion tariff refund following a Supreme Court ruling that struck down trade policies implemented by President Trump. The retailer plans to use the funds to invest in price reductions for consumers.
Why it matters
The refund highlights the significant financial impact of shifting trade policies on major U.S. retailers and the broader economy.
Target Corp. said Wednesday it received a nearly $1 billion tariff refund from the federal government.
It is among the first major Minnesota companies to report its refund following the U.S. Supreme Court’s decision to strike down President Donald Trump’s most sweeping tariffs.
Trump’s tariffs, imposed at the start of his second term in 2025, dominated economic conversations and fueled higher prices on a range of goods as businesses passed through their higher costs to consumers.
Chief Financial Officer Jim Lee, when asked on a call with reporters this week whether the consumer would receive any slice of the company’s tariff refund, said Target will continue to “invest in price,” pointing to price cuts on more than 10,000 items in the past year.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in