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Walmart receives $2.9 billion in tariff refunds as the administration undoes signature economic policy

The administration announced that it is refunding billions in tariff revenue after the Supreme Court struck down its most sweeping tariff policy. Walmart received the largest refund of $2.9 billion, which CEO John W. Furner stated the company intends to deploy back into prices to benefit consumers. Other major retailers, including Target and Home Depot, received significant payouts, but many are using the funds to boost margins or offset rising costs like fuel and energy. While consumers often bore the brunt of initial tariff costs through higher prices, many corporations are keeping the windfalls for themselves. Amazon has committed to passing a portion of its $600 million refund directly back to customers in specific cases, but most businesses lack the clear data to pass on the full amount. Treasury Secretary Scott Bessent criticized the process as a "corporate bonanza," noting that the administration was forced to give the money back. Democratic lawmakers have criticized the corporations for keeping the profits, while the administration maintains that the refunds are a result of the legal rulings that forced the undoing of a signature policy.

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