US companies receive billions in tariff refunds as consumers see little relief

US companies have received billions of dollars in tariff refunds after the Supreme Court ruled that the Trump administration's global tariffs were illegal, but consumers are unlikely to recover most of the higher prices they paid. Walmart received $2.9 billion, Target $994 million, Apple an estimated $2.2 billion, Ford $1.3 billion, Home Depot $730 million, Nike $684 million and Amazon $640 million. The government began distributing refunds from the $168 billion collected from 330,000 importers; $100 billion had been paid by July 31, according to a court filing by the US Customs and Border Protection. Companies say refunds may support lower prices or offset other costs, but pricing decisions also reflect demand and other expenses. An estimate from Kyle Peacock of Peacock Tariff Consulting puts the average US household's additional tariff costs at about $1,700 in 2025 and 2026, with only 15% to 20% likely to return through refunds or lower prices. Shipping companies including FedEx and UPS are an exception because they collected tariffs directly from customers and created portals to distribute rebates. Amazon also said it would refund customers in a limited set of cases where it passed specific import charges through.

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