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Several major big box retailers are recouping substantial returns for defunct tariffs they paid last year, but how they are utilizing the refunds varies.
Rivals Walmart and Target have reported some of the largest windfalls among the many companies that have received money back for President Donald Trump’s International Emergency Economic Powers Act tariffs that the Supreme Court invalidated earlier this year. Meanwhile, home improvement retail giants The Home Depot and Lowe’s have both clawed back funds but on different ends of the spectrum, with Home Depot landing $730 million so far, while Lowe’s reporting $80 million.
Customs and Border Protection launched its dedicated system for returning IEEPA levies in April. Known as Consolidated Administration and Processing of Entries, or CAPE, the system has paid out $106.6 billion in IEEPA tariff refunds, as of Aug. 21. Companies across numerous sectors, such as Amazon, Nintendo, Caterpillar and Kimberly-Clark, have all received some level of refund for the invalidated levies.
With Walmart, Target, Home Depot and Lowe’s all joining the fray, here’s a look at what these retail giants received and how they are incorporating the returned funds into their plans.
