Retail giant Target receives $1bn boost from tariff refunds
The two sides have been at an impasse on several issues, including US tariffs on autos, and many Canadian provinces banning American liquor sales.The president has used and threatened tariffs on dozens of countries since he returned to the White House last year. He has argued the trade policy will boost American manufacturing and jobs as businesses either source goods domestically or shift operations to the US. Target's big sellers are mostly in non-essential goods, such as home furniture and beauty products.It sources the majority of such products from China, with 30% of its store-label goods from the country.
- ▪The two sides have been at an impasse on several issues, including US tariffs on autos, and many Canadian provinces banning American liquor sales.The president has used and threatened tariffs on dozens of countries since he returned to the
- ▪He has argued the trade policy will boost American manufacturing and jobs as businesses either source goods domestically or shift operations to the US.
- ▪Target's big sellers are mostly in non-essential goods, such as home furniture and beauty products.It sources the majority of such products from China, with 30% of its store-label goods from the country.
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| Publication time | Wed, 19 Aug 2026 17:07:49 GMT |
| Retrieval time | 2026-08-19T19:13:08.423Z |
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US retail giant receives $1bn boost from tariff refundsImage source, Getty ImagesByMichael RaceBusiness reporter, Reporting fromNew YorkPublished19 August 2026, 15:47 BSTUpdated 2 hours agoTarget has revealed it has received almost $1bn (£733.9m) in tariff refunds from the US government which boosted the retailer's latest profits.The American chain said it received a $994 million pre-tax reimbursement, which resulted in its second quarter operating income doubling to $2.6bn from $1.3bn last year.Target is the latest of many businesses both large and small being given tax rebates on goods imported to the US following a Supreme Court ruling that declared a wave of President Donald Trump's import tariffs were unlawful.However, Trump has continued to impose duties on goods coming into the US…
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