GWW · 10-Q · 2026Q2 · Full report

Trade Policy and Tariffs

W.W. GRAINGER, INC. · 2026-08-04 · Importance 40 · Surprise 42

Recent changes in U.S. and foreign tariff and trade policies are causing intermittent disruptions in global capital markets and supply chains. Grainger is assessing changes to product sourcing, cost management, and customer pricing in response to evolving tariff policies. Tariff refund benefits were recognized in 2026 and were the primary driver of higher gross profit margin in High-Touch Solutions N.A., partially offset by increased freight costs; the filing does not quantify the refunds.

Key facts

• High-Touch Solutions N.A. gross profit increase was primarily due to tariff refund benefits recognized in the quarter, partially offset by an increase in freight costs. source