<\/p>\n
Billions of dollars in tariffs are heading back to importers. And some of America’s biggest companies are making clear they won’t be keeping the money.<\/p>\n
Costco Wholesale and United Parcel Service are among the companies that have stepped forward with direct commitments to pass tariff refunds on to their customers and members.\u00a0<\/p>\n
The moves come after the Supreme Court ruled in February that the Trump administration had overstepped its authority by using the International Emergency Economic Powers Act (IEEPA) to collect country-specific tariffs.<\/p>\n
For shoppers who absorbed higher prices over the past year, the question now is: How much comes back, and when?<\/p>\n
What the Supreme Court tariff ruling means for refunds<\/p>\n
On Feb. 20, 2026, the Supreme Court issued a 6-3 decision finding that the administration lacked the legal authority to impose tariffs under IEEPA. <\/p>\n
That single ruling set off a chain of events now moving through U.S. Customs and Border Protection (CBP).<\/p>\n
According to a court filing reported by NBC News:<\/p>\n
CBP’s executive director of trade programs said approximately $85 billion in tariff refunds have been accepted for processing.\u00a0Of that, more than $20 billion has been completed as of late May.\u00a0However, thousands of refunds remain on hold because importers have not yet submitted their bank account details.Hundreds of companies have lined up to claim their money back, including Walmart, Home Depot, Target, General Motors, Ford, FedEx, and DHL.\u00a0<\/p>\n
It is important to note that a blanket 10% tariff implemented under a separate law, Section 122 of the Trade Act of 1974, remains in effect.\u00a0<\/p>\n
That law allows the president to impose global tariffs of up to 15% for up to 150 days, NBC News confirmed.<\/p>\n
U.S. Trade Representative Jamieson Greer has indicated the administration may seek to restart that clock even without a formal congressional vote, a move that could face legal challenges.<\/p>\n
Costco’s plan to return tariff money to members<\/p>\n
On Costco’s (COST) third-quarter fiscal 2026 earnings call, CEO Ron Vachris confirmed the company has started submitting refund claims through the CBP process.<\/p>\n
“Our plan is to return to our members, in some form, the portion of tariffs that were passed on to them,” Vachris said.<\/p>\n
He noted that the exact amount and timing will depend on how much is received and when, as well as on the outcome of ongoing litigation regarding how those refunds are distributed.<\/p>\n
Related: Costco gets surprising lift from an everyday expense<\/p>\n
Costco’s approach stands out as most importers have no legal obligation to share refunds with end consumers.\u00a0<\/p>\n
The retailer’s willingness to return money to members reflects its broader philosophy of being, as Vachris put it, “first to lower prices and last to raise them.”<\/p>\n
UPS submits $500 million in tariff refund requests<\/p>\n
UPS (UPS) has taken concrete steps to process refunds quickly.\u00a0<\/p>\n
UPS CEO Carol Tome confirmed the company processed 16 million IEEPA-related entries and sent more than $5 billion in tariffs to the U.S. Treasury, FinanceBuzz reported.\u00a0<\/p>\n
More Retail Stocks:You won\u2019t believe what Coca-Cola just did with its coffee brandCostco reveals a new approach that could reshape the chainShoppers furious at grocery chain\u2019s new anti\u2011theft rule<\/p>\n
The company’s first batch of refund requests covers approximately 2.5 million entries totaling around $500 million.<\/p>\n
“We think it’s going to take some time before the Treasury remits money to us, but as soon as we get that money, we are going to remit it right back to our customer,” Tome said, according to FinanceBuzz.<\/p>\n
UPS says importers for which it is the importer of record do not need to file separately. The company will handle the process and issue refunds directly.\u00a0<\/p>\n
Once CBP approves requests, refunds are expected to arrive within 60 to 90 days via ACH transfer, FinanceBuzz noted.<\/p>\n
Notably, FedEx and DHL have also pledged to pass refunds back to the shippers and parties that originally paid the tariffs. <\/p>\n
UPS’ CEO aims to distribute tariff refunds to customers.<\/p>\n
Bloomberg via Getty Images<\/p>\n
What tariff refunds mean for everyday shoppers<\/p>\n
Here is the hard truth.\u00a0<\/p>\n
If you paid more for goods at retail because of tariffs, you are unlikely to see a direct refund. Only importers, meaning the businesses that actually paid the tariffs to CBP, are eligible to file claims.<\/p>\n
That said, retailers such as Costco choosing to return savings to members in some form could eventually show up as lower prices on shelves.<\/p>\n
The Joint Economic Committee estimated that the average American family has paid more than $1,700 in tariff costs since the start of President Donald Trump’s second term, according to FinanceBuzz.\u00a0<\/p>\n
The scale of that burden makes the commitments from Costco and UPS meaningful, even if the path to getting money back to consumers is slow and indirect.<\/p>\n
For Costco members, the promise is real. The timeline is just not yet set in stone.<\/p>\n
Related: Trump\u2019s tariff refunds are coming, but not to your wallet yet<\/p>\n
#Costco #UPS #issue #bold #message #tariff #refunds<\/p>\n","protected":false},"excerpt":{"rendered":"
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