Amazon to issue tariff refunds in ‘limited set of circumstances’
The e-commerce giant also will use the $600 million it has recouped from invalidated tariffs to lower prices for shoppers, per a Thursday earnings call.
Amazon has received approximately $600 million in refunded money from the U.S. government due to the invalidation of over a billion dollars in tariffs imposed by the Trump administration. The company disclosed this during its Q2 earnings call, as the Supreme Court ruled in February that the tariffs were unlawful. Amazon CFO Brian Olsavsky stated that the company plans to issue refunds to customers who shouldered the cost of these tariffs, promising to contact affected customers and automatically issue refunds.
Amazon believes the refund process will significantly reduce its expenses during the quarter, but the impact could have been even larger. The company absorbed most of the tariff costs instead of passing them on to customers, as it is primarily a platform for other retailers. Some consumers had previously accused Amazon of withholding tariff refund applications to gain favor with the administration, but the lawsuit was dismissed.
Written by urgent.news from Fast Company's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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