General · 19 August 2026

Target gets nearly $1 billion in US tariff refunds

US retail giant Target received a $994 million pre-tax reimbursement from the government, which doubled its second-quarter operating income to $2.6 billion. The refund follows a Supreme Court ruling that found some of President Donald Trump's import tariffs unlawful. Target's chief financial officer, Jim Lee, said the company will continue to invest in price.

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