A surprise credit after an overseas purchase: Tariff refunds now flowing through shippers
NEW YORK — If you bought something from an overseas vendor last year, it might be time to check your bank account. Shippers including FedEx and UPS that acted as customs brokers for imported packages and received tariff refunds from the U.S. government have started to pass on those refunds to the customers that originally paid the tariffs. The refunds to consumers are the last step in a…
The Korea Times reports that shippers like FedEx and UPS, acting as customs brokers for imported packages, have begun passing on tariff refunds to customers who originally paid the tariffs. This marks the final stage in a multi-month process initiated in February when the Supreme Court overturned tariffs imposed by President Donald Trump in March 2025 under the 1977 International Emergency Economic Powers Act.
These tariffs, which affected almost all countries, led to a government refund of approximately $100 billion. However, the refunds to consumers are expected to be significantly less, as most tariffs were paid indirectly. The Tax Foundation estimates that the Trump tariffs resulted in an average tax increase of $1,000 per U.S. household in 2025.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — it may contain errors, so check the original before relying on it.
