FedEx and UPS are pledging to give their tariff refunds back to consumers, and the sum will likely top $5 billion

The day after the Supreme Court’s decision striking down President Donald Trump’s tariffs under the International Emergency Economic Powers Act (IEEPA), Commerce Secretary Scott Bessent offered bleak odds of consumers receiving refunds for the $166 billion in tariff revenue collected: “I got a feeling the American people won’t see it.” 

But after the U.S. Customs and Border Protection (CBP) launched its online tariff refund platform—the Consolidated Administration and Processing of Entries (CAPE)—for U.S. importers, some companies are beginning to roll out plans to pass down their returns to customers who footed the bill for the import taxes. FedEx and UPS both announced on Tuesday plans to return rebates from the levies to customers.

“We are working ⁠with the Customs Border Protection to apply for those refunds. Our approach is to work with the U.S. government and not to sue the U.S. government,” UPS CEO Carol Tome said in a Tuesday........

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