Supreme Court Rejects Trump Tariffs, Triggering $994 Million Refund to Target

Target secured a $994 million tariff refund after the Supreme Court ruled Trump-era import tariffs unlawful — tariffs being taxes on goods entering the U.S. The sum equals 38% of Target's $2.6 billion second-quarter operating income, which doubled from $1.3 billion a year earlier. Other importers may hold similar claims; total federal reimbursement exposure remains undisclosed.