Tariff Refund Windfall Accelerates Profits and U.S. Growth to 4.3%

Tariff refunds returned by the Trump administration to U.S. businesses have boosted corporate earnings (with beneficiaries like Apple, Nike, FedEx, Amazon, and GM) and are expected to add about 0.2 percentage point to third‑quarter GDP, helping growth run near 4.3%. The refunds come as AI spending, reshoring, and tax policy support the economy, and a surprisingly soft July jobs report is viewed as a seasonal quirk rather than a momentum loss. Companies are reallocating or returning the money—promotions, capital investment, or shareholder payouts—while retailers and policymakers watch how broadly the windfall affects growth and inflation.