U.S. retailers and consumer goods companies are using more than $160 billion in tariff refunds in sharply different ways after the Supreme Court ruled in February that the International Emergency Economic Powers Act did not authorize President Donald Trump to impose the tariffs. Walmart said it used roughly $2.9 billion in refunds to roll back prices on 11,000 items, while e.l.f. Beauty permanently lowered prices across about 10% of its catalog after tests showed a $4 price cut lifted unit sales by nearly 40%. Tractor Supply is using its refunds to offset freight and fuel costs, and Burlington Stores plans to reinvest all $55 million in lower prices. Other companies are directing the payments toward cost of sales, gross margins, earnings, inventory or shareholder returns. The one-time benefits have supported recent results but will create tougher comparisons once the refunds fade, while retailers and consumers face difficulty linking specific price changes to individual tariff payments.