The logistics firm will return duties collected under Trump-era tariffs after a Supreme Court ruling invalidated the levies earlier this year.
FedEx will begin refunding approximately $800 million in tariffs to customers starting in August. The reimbursements follow a Supreme Court decision in February that struck down tariffs imposed under the International Emergency Economic Powers Act (IEEPA). The company had collected the duties from shippers after the Trump administration levied them on U.S. trade partners last year.
U.S. Customs and Border Protection estimates over $95 billion in total refunds are approved or pending, with $24 billion already sent to the Treasury for disbursement. FedEx and competitors like UPS and DHL filed claims on behalf of customers seeking reimbursements. The company remains involved in litigation with the U.S. government and faces class action lawsuits from customers.
FedEx reported fourth-quarter revenue of $25 billion, up 13 percent year-over-year, exceeding analyst estimates of $24 billion. The tariff refunds were disclosed in its earnings report, which attributed revenue growth to increased shipping volumes and pricing adjustments.