Topline
President Donald Trump on Tuesday said he will “remember” the U.S. companies that do not ask to have the illegal tariff money they paid refunded, a remark that could be seen as signaling future preferential treatment for businesses that forgo the money they are legally owed.
President Donald Trump at White House on April 16, 2026.
Getty Images
Key Facts
The Supreme Court in February ruled that the tariffs Trump unilaterally imposed on U.S. trade partners were illegal and on Monday the U.S. Customs and Border Protection opened a portal allowing businesses to seek $160 billion in potential refunds for the fees.
Some of the nation’s largest companies, including Apple and Amazon, have not yet sought to be repaid for the tariffs and Trump said it would be “brilliant” if they never do.
“If they don’t do that, I’ll remember them,” Trump told CNBC’s “Squawk Box.”
The comment came after he was asked what he thought of some companies not applying because their leaders fear seeking a refund would “offend” the president, to which Trump said he was “very honored” that companies were considering his feelings in their decision making.
Trump also said he was “not happy” with the Supreme Court for ruling against the tariffs and complained that the decision did not include a condition that “you don’t have to pay back tariffs that have already been received.”
Over 1,000 companies have filed lawsuits with the U.S. Court of International Trade to recoup their losses, including FedEx, CVS and Costco.
Get Forbes Breaking News Text Alerts: We’re launching text message alerts so you’ll always know the biggest stories shaping the day’s headlines. Text “Alerts” to (201) 335-0739 or sign up here: joinsubtext.com/forbes.
Big Number
330,000. That’s how many importers paid $166 billion in tariffs before the Supreme Court overturned the policy. A vast majority of those companies, roughly 250,000, had not completed the first step needed to recoup their money (signing up for electronic payments) as of last week, according to U.S. Customs and Border Protection.
Key Background
The Supreme Court ruled against Trump’s tariffs in a 6-3 vote, arguing he did not have the authority to impose his widespread tariff policy. Since then, the Trump administration has sought to delay the refund process but is legally required to give back the $166 billion to the companies that paid the fees, minus interest. It’s not immediately clear how much each importer will recoup, but analysts have suggested some companies could be in line for payouts worth billions including Walmart ($10.2 billion), Target ($2.2 billion) and Nike ($1 billion). Many of the companies impacted by the tariffs passed those costs along to consumers in the form of higher prices, but analysts have warned the refunds likely won’t result in a rollback on costs. Tariff rebates will only benefit U.S. importers and it “seems unlikely anyone will rush to lower prices to their consumers,” UBS chief economist Paul Donovan wrote.
Leave a comment