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UPS, FedEx Refund $5 B+ After Supreme Court Strikes Tariffs

4/30/2026

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Summary

UPS Tariff Refunds

UPS will pass on over $5 billion in IEEPA tariff refunds to customers, CEO Carol Tomé said.
FedEx will refund shippers and consumers after receiving its share from Customs and Border Protection (CBP).
CBP opened the CAPE portal on April 20 for firms to file illegal-tariff claims.
The Supreme Court’s February decision struck down President Donald Trump’s IEEPA tariffs, covering $166 billion in duties and about 330,000 importers.

Summary

Nintendo Lawsuit

A class-action lawsuit filed in April targets Nintendo and demands tariff refunds go to shoppers.
Wild Rye founder Cassie Abel said $250,000 in tariffs caused $750,000 impact and will use refunds for inventory.
Baby’s Brew CEO David Suk warned added shipping, material and loan costs keep the firm loss-making even with refunds.
Analysts say total tariff-related costs approach $175 billion, making consumer rebates impractical for most retailers.

History

Historical Context

NAFTA took effect on Jan 1 1994, removing tariffs on over half of Mexico’s exports to the United States and many Canadian goods. The agreement created a customs portal in 1995 and set a precedent for low-duty trade, which today guides UPS, FedEx and Nintendo as they face the Supreme Court’s 2022 reversal of Trump’s IEEPA tariffs. The case revives NAFTA-style efforts to curb punitive duties.

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UPS Tariff Refunds

UPS will pass on over $5 billion in IEEPA tariff refunds to customers, CEO Carol Tomé said.
FedEx will refund shippers and consumers after receiving its share from Customs and Border Protection (CBP).
CBP opened the CAPE portal on April 20 for firms to file illegal-tariff claims.
The Supreme Court’s February decision struck down President Donald Trump’s IEEPA tariffs, covering $166 billion in duties and about 330,000 importers.

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