A surprise credit after an overseas purchase: The tariff refunds now flowing through shippers
- FedEx, UPS and DHL have begun passing tariff refunds from the U.S. government back to customers who originally paid those charges on imported packages.
- The refunds follow a Supreme Court ruling in February that struck down sweeping tariffs imposed by President Donald Trump in March 2025 under emergency powers law and required the government to return the money it collected.
- About $100 billion in tariff payments has so far been refunded to companies through U.S. Customs and Border Protection’s process, but many consumers are unlikely to recover all they paid because most tariffs were paid indirectly through higher prices.
- FedEx said it has started issuing $800 million in tariff refunds, UPS said it had applied for $500 million in refunds in an initial phase, and DHL said it has filed claims for almost all eligible shipments where it was importer of record.
- Large retailers such as Amazon, Best Buy and Costco said they may return some refunds in limited cases, but in many instances they are more likely to use the money to lower prices rather than send direct consumer rebates.
- More than 80 class-action lawsuits have been filed by shoppers seeking tariff-related price increases back from retailers, but legal experts said those claims will be difficult to prove and none has yet been certified as a class action.
Shippers that collected tariffs on imported packages are beginning to pass government refunds back to the consumers who paid them. The refunds are arriving in phases, with companies saying the timing depends on when the original tariff was paid and when Customs and Border Protection processes each claim.
The money flow follows the Supreme Court’s February decision striking down the tariffs imposed by President Donald Trump in March 2025 under emergency powers law. The court ordered the government to return the tariffs it had collected, and roughly $100 billion has already been refunded to companies through the federal process. For consumers, however, the amounts are likely to be smaller because many tariffs were embedded in prices rather than billed directly.
FedEx says it has begun returning $800 million in refunds, while UPS said it has sought an initial $500 million in reimbursement and expects customer refunds to follow after Treasury payment. DHL said it has filed claims for nearly all eligible shipments where it served as importer of record and is returning money as it receives it.
Large retailers are handling the refunds differently. Amazon said it will automatically reimburse customers in limited cases where specific import charges can be traced, and otherwise will use refunds to lower prices. Best Buy and Costco have said they may pass along value in some form. For markets, the effect is likely neutral overall: the issue mainly affects one-time cash flows for shippers and retailers, with only limited direct implications for stocks and no clear signal for crypto, gold or foreign exchange.
海外购物后的意外退款：航运商正向消费者返还关税
为进口包裹代收关税的运输公司，正在把美国政府退回的款项返还给当初支付费用的消费者。退款按批次推进，企业表示节奏取决于原始关税的缴纳时间，以及海关与边境保护局处理各项索赔的进度。
这笔资金回流，源于最高法院今年2月作出的裁决。法院推翻了特朗普总统在2025年3月依据紧急权力法实施的关税，并要求政府返还已征收的税款。联邦流程下，约1000亿美元关税款已经退回企业，但对消费者来说，能拿回的金额通常更少，因为很多关税是被计入价格中间接转嫁的。
联邦快递表示已开始返还8亿美元退款；UPS称已申请首批5亿美元报销，预计在财政部付款后再向客户退款；DHL则表示，凡是其作为进口商、且符合条件的货件，几乎都已提交索赔，并会在收到退款后继续返还。
大型零售商的做法不一。亚马逊表示，在少数可明确追踪到具体进口费用的情况下，会自动退还给客户；其他情况下则会把退款用于降价。百思买和好市多也表示，可能会以某种形式把价值返还给消费者。对市场而言，这一消息整体偏中性，主要影响运输商和零售商的一次性现金流，对股票有有限影响，对加密货币、黄金或外汇没有明显直接信号。