Business · 19 August 2026
Target gets nearly $1 billion in US tariff refunds
Photo by Shabaz Usmani on Unsplash
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.
Reported by BBC · How we write briefs