FedEx and UPS Vow to Return Tariff Refunds

FedEx Corp. and United Parcel Service Inc. said they will return tariff refunds to customers after the U.S. government remits the money. The pledge follows a February Supreme Court ruling that struck down Trump's emergency-law tariffs, opening the way for companies to claim back illegally collected levies.

UPS said it collected about $5 billion in tariffs from customers and would return the money after Treasury remits the refunds. FedEx said it would refund customers as soon as it begins receiving refunds from U.S. Customs and Border Protection.