FedEx says it will return any tariff refunds to customers, shippers who paid them

Core Viewpoint - FedEx will return any tariff refunds received to customers who paid them, following the Supreme Court's ruling that certain tariffs imposed under the International Emergency Economic Powers Act (IEEPA) were illegal [1][2][7]. Group 1: Company Actions - FedEx announced its intention to return tariff refunds to shippers and customers who incurred the costs of the tariffs [2][4]. - The company is focused on supporting customers as they navigate regulatory changes and has taken steps to preserve its right to refunds for IEEPA tariffs [3][4]. - FedEx is committed to transparency and will provide updates as more information becomes available from the government and the court [7]. Group 2: Legal Context - The Supreme Court ruled that the tariffs imposed under IEEPA were unconstitutional, as the law did not authorize the president to impose such tariffs [7]. - The ruling does not affect tariffs imposed by the Trump administration under other legal authorities, and the White House plans to implement alternative tariffs to offset IEEPA tariff revenue [8]. Group 3: Financial Implications - Over $150 billion was collected by the federal government from IEEPA tariffs before they were struck down, which may now be subject to refunds [11]. - Estimates of the total IEEPA tariffs collected range from $150 billion to $200 billion, according to various analyses [11]. - There are existing avenues for pursuing tariff refunds, including lawsuits in the U.S. Court of International Trade and appeals to U.S. Customs and Border Protection [13]. Group 4: Economic Impact - A study by the Federal Reserve Bank of New York indicated that U.S. businesses and consumers bore 86% of the tariff burden, with foreign exporters bearing 14% as of November 2025 [16]. - The share of the tariff burden borne by U.S. businesses and consumers decreased from 94% to 92% over the year [16]. - The Congressional Budget Office noted that foreign exporters absorbed about 5% of the tariff costs, with 95% falling on U.S. firms and consumers [17].