Trump Administration Tops $100 Billion in Tariff Refunds as Apple Collects $2.19 Billion
Updated
Updated · The Motley Fool · Aug 5
Trump Administration Tops $100 Billion in Tariff Refunds as Apple Collects $2.19 Billion
3 articles · Updated · The Motley Fool · Aug 5
Summary
$100 billion in tariff refunds had been issued by Aug. 4, part of roughly $166 billion the Trump administration owes after the Supreme Court voided its IEEPA tariffs in February.
Apple received the largest disclosed refund so far at $2.19 billion, boosting quarterly earnings per share by $0.11; Amazon got $600 million, while Walmart is expected to receive about $2.4 billion.
Several companies say they will recycle the cash rather than simply bank it: Apple pledged investment in innovation and domestic manufacturing, while Amazon and Costco said some benefits would go to customers or members.
The refunds do not end the tariff story, because Trump last month imposed new Section 301 tariffs of 10% to 12.5% on more than 80 countries.
Service-sector purchasing managers and Fed officials have already pointed to tariffs as a driver of higher goods costs, suggesting inflation pressure could build again in coming quarters.