Walmart became the latest retailer to say it will use tariff refunds to lower prices for shoppers.
During the retailer’s Aug. 20 earnings call, Chief Financial Officer John David Rainey said Walmart received $2.9 billion in tariff refunds. The money will be used for “a combination of rollbacks across food, general merchandise, consumables, fashion.”
“We know customers are looking for a variety of things across the basket,” he said.
Earlier this summer, Walmart also lowered the price of thousands of items at its stores and Sam’s Club, including staples such as beef.
Why Are Businesses Getting Tariff Refunds?
U.S. businesses began receiving refunds…
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