FedEx Seeks Refund After Court Says Trump Tariffs Were Illegal

FedEx has filed a lawsuit asking the U. S. government to return money it paid for tariffs that were imposed last year by President Trump. The company says the Supreme Court ruled those tariffs unlawful, so it wants a full refund. This move is the first by a large U. S. company to request money back after the Supreme Court’s decision. Other firms, such as Costco, already filed similar claims before the high court ruled on the tariffs’ legality. Those cases are still pending in the U. S. Court of International Trade in New York, where FedEx also filed its suit.The Supreme Court said the Court of International Trade has sole authority over the tariffs created under the International Emergency Economic Powers Act. FedEx’s complaint lists U. S. Customs and Border Protection, its commissioner Rodney Scott, and the U. S. government as defendants. FedEx did not disclose how much it paid in tariffs, but earlier this year the company warned that trade policies could cost its 2023 earnings about $1 billion, roughly 16% of last year’s profits. The company is waiting for a clear refund process from regulators or the courts. FedEx’s website notes that while the Supreme Court did not address refunds, the company is taking steps to protect its rights as an importer. It says it will share updates once more guidance comes from the government and courts.