Lates News

The US government has formally started the process of tariff refunds, but there is still a lot of uncertainty about whether businesses will be able to receive the money smoothly. First, it is important to note that this tariff refund is not automatic. Companies must prepare the necessary documentation, including import records and proof of tariff payment, to calculate the amount to be refunded. Analysts believe that this process is particularly challenging for small and medium-sized enterprises. Due to the complexity and amount of documentation required, some companies with limited resources may not be able to submit a complete application and therefore miss out on the refunds they are entitled to. Furthermore, the refund process is being phased in, with the first round only covering certain tariff items. The system will only process customs records that are still being cleared or have been cleared within the past 80 days. According to a report released by Citigroup Research, Walmart is expected to receive approximately $10.2 billion in refunds, Target will receive around $2.2 billion, and Nike $1 billion. Companies like Kohl's, Gap, and Macy's may also receive hundreds of millions of dollars in refunds. Analysts point out that these refunds may not be reflected in the companies' performance guidance in the short term, but they are expected to provide a one-time boost to their balance sheets in the coming quarters. (CCTV Finance)