Home Depot seeks refunds under Trump-era tariff program

Home Depot has joined Walmart and Target in seeking refunds under the Trump-era tariff reimbursement program, according to CNBC, adding another large retailer to the list of companies trying to recover import duties after recent court action. CNBC reported on May 22 that the three chains were among major retailers that applied for refunds through the federal process. Walmart confirmed to CNBC that it had sought a refund and said it would use any money it receives to invest in lower prices for shoppers. (cnbc.com) (ir.homedepot.com) The filing activity comes as tariffs and freight costs remain part of the operating backdrop for big-box retailers. On Home Depot’s May 19 first-quarter earnings call, an analyst asked management how freight, fuel and a Section 232 tariff change would affect gross margin going forward. Home Depot’s investor-relations site posted the transcript. ### What exactly did Home Depot do? CNBC reported on May 22 that Home Depot applied for tariff refunds under the Trump-era program, alongside Walmart and Target. (cnbc.com) The report said the refund process followed court developments that left the government owing large sums back to importers. U.S. Customs and Border Protection is administering the refund process, according to multiple reports cited in search results this week. USA Today reported on May 13 that CBP was rolling out the refunds after court rulings struck down much of the tariff regime. (ir.homedepot.com) ### Why are retailers pursuing refunds now? May 2026 has brought fresh pressure on retailers’ cost structures, with freight and tariff exposure still showing up in earnings commentary. On Home Depot’s first-quarter call, the tariff issue surfaced directly in a question about margin effects from freight, fuel and the Section 232 tariff change. (cnbc.com) Walmart gave the clearest public explanation in CNBC’s reporting. Walmart told CNBC it had sought a refund and planned to use any money it receives to invest in lower prices for shoppers. (usatoday.com) CNBC did not, in the search result surfaced here, provide an equivalent public statement from Home Depot or Target. ### How does this fit with Home Depot’s latest earnings? Home Depot reported first-quarter 2026 sales of $41.8 billion, according to earnings-call coverage and transcript summaries surfaced in search results. (ir.homedepot.com) Adjusted diluted earnings per share were $3.43, while gross margin was 33%, down 75 basis points, according to the call transcript summary. The May 19 call showed that tariff-related costs were being discussed alongside freight and fuel rather than as a separate issue. That framing matters because it places tariff exposure inside the broader set of operating-cost variables management and analysts are watching this quarter. (cnbc.com) ### Are consumers getting any of this money directly? USA Today and other reports said the refund system is designed for importers and customs brokers, not individual consumers. That means households do not apply directly for checks through the tariff refund portal. (fool.com) Walmart is one of the few named companies to say publicly how it might use the funds. CNBC reported that Walmart said any refund money would go toward lower prices for shoppers. Home Depot and Target were identified by CNBC as applicants, but the available search material did not show comparable public commitments from them on customer pricing. (ir.homedepot.com) ### What happens next? CBP’s refund process is already underway, according to May 2026 reporting, and retailers that applied now wait for determinations and payments through that system. (usatoday.com) USA Today reported that refunds began rolling out this month. Home Depot’s next public markers are likely to come through future earnings disclosures or company comments if refund amounts become material. For now, the confirmed public facts are that CNBC reported Home Depot, Walmart and Target applied by May 22, and that Home Depot’s May 19 earnings call identified freight, fuel and a Section 232 tariff change as current cost issues. (cnbc.com) (usatoday.com)