UPS and FedEx vow to return tariff refunds to customers
Fernando Cervantes Jr.After the Supreme Court struck down President Donald Trump's sweeping tariffs back in February, UPS and FedEx, two of the largest delivery companies in the United States, vowed to share tariff refunds with their customers.
As first reported by Reuters, UPS CEO Carol Tome said in a post-earnings investor call that the company had collected about $5 billion in tariffs from its customers. Tome added that UPS would be issuing tariff refunds to its customers.
In an emailed statement to USA TODAY, UPS confirmed it was working with the federal government to process tariff refunds made earlier this year.
"UPS is processing refunds for eligible shipments where we served as the importer. We will expand our efforts as CBP launches future phases. We are committed to supporting our customers during the refund process," UPS said.
FedEx told Reuters that it had also pledged to issue refunds "as soon as it begins receiving refunds from CBP."
FedEx did not immediately respond to USA TODAY’s request for comment.
Tariff refunds on the horizon
On February 20, the Supreme Court dealt a major blow to Trump’s economic agenda, ruling that he didn't have the authority to impose sweeping tariffs at the stroke of a pen. The ruling came despite warnings from Trump that striking down his tariffs would have "catastrophic consequences for our national security, foreign policy, and the economy."
Now, more than two months after the ruling, U.S. businesses that paid those fees have begun to apply for refunds through a new Customs and Border Protection portal.
Court filings show those refunds could total roughly $166 billion, with more than 330,000 importers having paid tariffs on more than 53 million shipments. Additional court documents revealed the federal government plans to issue the first round of refunds "on or about" May 11.
Contributing: Rachel Barber and Maureen Groppe, USA TODAY
Fernando Cervantes Jr. is a trending news reporter for USA TODAY. Reach him at [email protected] and follow him on X @fern_cerv_.