Shoppers in the United States who purchased goods from overseas vendors last year may be in line for a surprise refund, as shippers begin passing back tariff refunds received from the government. According to a report by the Associated Press, shippers including FedEx and UPS, which acted as customs brokers for imported packages, have started returning tariff refunds to the customers who originally paid them. This marks the final step in a process that began in February, when the US Supreme Court struck down sweeping tariffs imposed by US President Donald Trump in March 2025 under the 1977 International Emergency Economic Powers Act on goods from nearly every country.
More than 40 major US companies have disclosed $9.6 billion in tariff refunds over the past few months, with technology hardware companies accounting for roughly $2.5 billion of that total. According to a report by The Wall Street Journal, at least $2.1 billion of the total amount has already been received in cash. Apple has emerged as the biggest disclosed beneficiary, reporting nearly $2.2 billion in tariff refunds that added 11 cents to its latest quarterly earnings per share, representing roughly 5% of its total quarterly earnings. Nike also received substantial relief with $302 million in tariff refunds during the quarter ended May 31, and said nearly all of another $684 million had been received by July 15. Amazon reported $640 million in refunds, with the company planning to use the money to support lower prices and continued investment.
The US Treasury Department reported that $33.4 billion in tariff refunds were sent out in July alone, bringing total refunds to businesses to more than $100 billion since the Supreme Court's February 20 decision. However, this does not mean consumers will recover close to what they paid, since most tariffs were paid indirectly. According to the Tax Foundation, a Washington-based tax research group, the tariffs amounted to an average tax increase of $1,000 per US household in 2025. As reported by the Associated Press, the court ordered the government to return the tariffs it had collected after striking down the sweeping tariff measures.
FedEx has begun issuing $800 million in refunds directly to customers' credit cards or bank accounts, with no application required, though customers can check eligibility using tracking numbers on a dedicated FedEx portal. UPS had said in April that it paid $5 billion in tariffs on behalf of clients and applied for $500 million in refunds in its first phase, with customers expected to receive money one to three months after the company is reimbursed by the Treasury. DHL said it has filed claims for nearly all eligible shipments and is returning refunds as they come in, though the pace depends on US Customs and Border Protection's processing of claims.
The refund process has gained significant momentum, with US Customs and Border Protection having received more than 252,000 refund applications by July 31, and around $128.7 billion in refunds had been accepted for processing. According to The Wall Street Journal, other major beneficiaries include General Motors with roughly $500 million, Caterpillar recording $392 million in expected tariff recoveries, and Ford Motor Company expecting about $3 billion in tariff reimbursements from the government and suppliers. The financial impact varies significantly across companies due to different accounting methods, with some recognizing refunds after receiving cash while others record expected payments as receivables. Many companies continue to pay tariffs on imports, which can offset part of the refunds, making the benefits potentially temporary for some corporations.
