Businesses Receive Billions Back
The Trump administration has refunded $20.6 billion to businesses after the Supreme Court ruled many of President Donald Trump’s tariffs illegal earlier this year, according to a new court filing.
The refunds are part of a larger process expected to return up to $166 billion to more than 330,000 importers through U.S. Customs and Border Protection.
Major Companies Seeking Refunds
Companies including Walmart, Costco, Apple, Home Depot and General Motors have confirmed they are applying for tariff refunds.
Walmart said it plans to use part of its estimated $2.4 billion refund to lower prices for customers.
Shipping companies UPS, FedEx and DHL also said they will directly refund eligible customers affected by tariff charges.
Consumers Unlikely to Get Direct Payments
While businesses are recovering billions, most consumers are unlikely to receive direct refunds for higher prices paid during the tariffs.
The nonpartisan Tax Foundation estimated the tariffs cost the average American household about $700 last year.
According to the court filing, about $85 billion in refund claims have already been approved, with $20.6 billion successfully returned so far.
For more on the Trump tariffs, stay tuned to Que Onda Magazine.