FedEx announced it will return any refund it receives from U.S. government on illegal tariffs to the shippers and customers who originally paid those charges.
The company made the announcement following its lawsuit in the U.S. Court of International Trade seeking refunds for tariffs imposed under the International Emergency Economic Powers Act by former President Trump.
Driving the news: The U.S. Supreme Court recently ruled that these IEEPA tariffs are illegal, prompting more than 1,000 companies – including major corporations like Costco and Revlon – to pursue refunds in court.
- FedEx clarified that the timing and process for issuing refunds will depend on guidance from the government and the court.
- The Supreme Court did not specify a mechanism for refunding companies and individuals who paid the tariffs, and setting up such a system is expected to take time.
