Some of America’s biggest companies are receiving hundreds of millions of dollars in tariff refunds, or booking even larger financial benefits. However, many consumers are wondering if those refunds will find their way back into their wallets.
After the Supreme Court ruled that the International Emergency Economic Powers Act did not give the president authority to impose tariffs, major Fortune 500 companies, including Amazon and Target, have received hundreds of millions of dollars in tariff refunds. Some have pledged to issue refunds to consumers who bore increased costs thanks to the tariffs, while others have stayed mum on the subject.
The Trump administration said as of July 31, it certified $100 billion in tariff refunds, including interest, out of the $166 billion it collected.
Companies that received cash
Amazon, ranking No.1 on the Fortune 500, stands out as one of the largest companies to have already collected refunds. The e-commerce giant said “we received approximately $640 million of tariff refunds under the International Emergency Economic Powers Act (“IEEPA”),” during the second quarter of 2026, according to its SEC filing. The amount represented the “significant majority of refunds” it expects to receive. Amazon has said it may offer refunds to only a limited number of customers impacted by the tariffs.
