FedEx, UPS to Return $5B Tariff Refunds

FedEx and UPS announced they will return tariff refunds to customers after the U.S. government begins remitting illegally collected levies.
The U.S. Supreme Court struck down Trump‑era tariffs, affecting about $166 billion in collections, with UPS having collected $5 billion from customers.
UPS CEO Carol Tome said refunds will be processed after funds are remitted; FedEx will issue refunds after receiving them from CBP.
Both firms expect the refund timeline to take time before Treasury remits money, but commit to passing refunds directly to customers promptly.