S&P 500 Companies Collect $9.6 Billion in Tariff Refunds After Supreme Court Voids $166 Billion
Updated
Updated · Morning Brew · Aug 14
S&P 500 Companies Collect $9.6 Billion in Tariff Refunds After Supreme Court Voids $166 Billion
3 articles · Updated · Morning Brew · Aug 14
Summary
More than 40 S&P 500 companies booked a combined $9.6 billion in tariff refunds last quarter, with Apple receiving the biggest payout at $2.2 billion.
The windfall followed the Supreme Court’s February decision striking down Trump-era tariffs on nearly all U.S. trading partners; by the end of July, authorities had approved $129 billion of $166 billion in canceled duties for repayment.
Apple said its refund added about 5% to second-quarter per-share earnings, or roughly 11 cents; Ford received $1.3 billion, Nike $986 million, FedEx $800 million and Amazon $640 million.
Consumers are unlikely to get direct cash back because companies cannot easily tie past price increases solely to tariffs, though shippers including FedEx, UPS and DHL can refund some customers whose imports were specifically charged.