Six Major Companies Returning Tariff Savings to Consumers
Following a Supreme Court ruling in February 2026 that invalidated certain tariffs under the International Emergency Economic Powers Act (IEEPA), several major companies are returning billions of dollars in refunds. The U.S. government is expected to return approximately $166 billion, with over $100 billion already distributed as of August 2026. Companies like FedEx and UPS are directly refunding customers who paid extra for tariffs on international shipments through dedicated portals. Walmart has received nearly all its eligible refunds totaling around $2.9 billion and is using the funds to lower prices, particularly in categories such as beef and grilling essentials during summer months. Beauty brand e.l.f., which had raised product prices by $1 per item due to tariffs, reduced them after receiving refunds, resulting in a 40% increase in unit sales for some products. Amazon is handling its refund process differently given the high volume of third-party sellers on its platform. The company has issued
