TL;DR
- Amazon has confirmed it received $600 million as part of a tariff refund, saying some consumers will get their money back.
- The US Supreme Court struck down the Trump administration’s sweeping tariffs earlier this year, making companies eligible to request refunds.
- Amazon hasn’t clarified when it will process these refunds, though customers can expect word from the retailer soon.
The Supreme Court dealt a blow to the US government this year by invalidating certain trade tariffs. As a consequence, companies were allowed to request a refund of the tariffs they had paid until that point. E-commerce retailer Amazon has now announced how it will manage these refunds.
Speaking to analysts on a conference call, Amazon’s Chief Financial Officer, Brian Olsavsky, confirmed that the company has received $600 million in tariff refunds, and that a portion of it will be returned to the consumers (via Bloomberg).
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