UPS said it had paid $5 billion in tariffs on behalf of clients as of April and was initiating government refund applications. The company initially requested $500 million in reimbursement, noting that clients can anticipate receiving their refunds within one to three months after Treasury funds are distributed.
DHL similarly said that it has filed claims for almost all eligible shipments where it served as the importer of record and is returning the refunds it has received.
“The volume and pace of refunds continue to depend on CBP’s processing of claims,” DHL said in a statement.
What Are Retailers Doing?
Major retailers mostly plan to use tariff refunds to lower prices rather than issue direct consumer refunds, as most indirectly passed on tariff costs or absorbed them.
Amazon received $600 million in tariff refunds last quarter. CFO Brian Olsavsky stated that while Amazon rarely acts as the importer of record, it will automatically refund customers in limited cases where specific import charges were directly passed on, using remaining refunds to lower prices.