Money
$126 billion in tariff refunds. Apple and Walmart get paid. You probably won't.
By the newsroom · · 1 min read · ▶ 1:00
The essentials
- CBP has certified approximately $126 billion in refunds through October 2, 2026, about 76 percent of the $166 billion collected.[1]
- CBP can only issue tariff refunds to the so-called importer of record.[2]
- Apple has received an estimated $2.2 billion in refunds.[3]
- Importers aren't legally obligated to refund customers.[2]
What happened
The Supreme Court ruled against most of Trump's widest-ranging tariffs on Feb. 20.[4] Tariffs collected under the IEEPA authority prior to their removal totaled approximately $166 billion, all of which is subject to refund.[1] According to court filings, CBP has certified approximately $126 billion in refunds through October 2, 2026.[1]
The refunds go to the importer of record, the entity that directly paid one of the emergency tariffs.[2] Businesses that receive refunds can choose to keep them in their entirety or pass along some of the money to consumers.[2] Walmart is also pursuing tariff refunds, which could total more than $2 billion.[3] Few companies have explicitly said the refunds will flow back to customers.[3]
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What the video doesn't say
Nike expects to recover $986 million in IEEPA tariff refunds but has said little about how the money will be used.[3] Amazon received about $600 million in tariff-related refunds in the second quarter.[3] The Tax Foundation estimated the tariffs amounted to an average tax increase of about $1,000 per U.S. household in 2025.[3]
Some shoppers are suing.[3] In a July court filing, lawyers for Nintendo argued that consumers were "free to abstain from purchasing the product or seek out competing products" if they disagreed with the price.[3] "Every single cent of these refunds should go back to American consumers," said Greg Casar.[4]
Sources
- 1Effective Tariff Rates and Revenues (Updated October 14, 2026) | Penn Wharton Budget ModelPenn Wharton Budget Model · October 14, 2026
- 2How consumers can get a refund for Trump tariffs struck down by Supreme CourtCBS News · August 14, 2026
- 3Companies are getting tariff refunds - but that doesn’t mean you willNewsNation · August 7, 2026
- 4Trump administration has refunded $100 billion in tariffs struck down by Supreme Court, filing showsNBC News · August 6, 2026
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