Tariff refunds have begun rolling in to big U.S. companies—in some cases providing a solid boost to earnings

If you made a purchase from an overseas retailer last year, it may be worthwhile to review your bank statement. Shipping companies like FedEx and UPS, which served as customs brokers for imported parcels and obtained tariff refunds from the U.S. government, have commenced disbursing those refunds to the initial payers. This marks the final stage in a process that began in February when the Supreme Court overturned the tariffs imposed by President Donald Trump in March 2025.

These tariffs, part of the 1977 International Emergency Economic Powers Act, were applied to imports from nearly all nations. The court mandated the government to return the tariffs collected.

Thus far, approximately $100 billion in tariffs have been refunded to businesses that originally paid them through a system established by U.S. Customs and Border Protection. However, this does not imply that American consumers will receive a significant portion of what they paid in tariffs. Most of the tariffs were indirectly levied, with the average tax increase per U.S. household in 2025 amounting to $1,000, as reported by the Tax Foundation, a Washington-based research organization.