Americans have footed the bill for President Donald Trump’s tariffs, and now they’re demanding a refund.
The Supreme Court ruling striking down tariffs imposed under the International Emergency Economic Powers Act (IEEPA) opened the door for U.S. companies to snap up refunds from the approximately $180 billion in import tax revenue. Now customers who experienced higher prices from the tariffs are demanding their fair share.
Overwhelming data, including a report from the Federal Reserve Bank of New York, indicated that U.S. importers paid for the majority of the tariffs—up to 90%—with many passing down the increased costs to American consumers. Goldman Sachs estimated the tariffs added a 0.7% increase to inflation over 10 months, with prices to increase another 0.1% in 2026 because of levies.
Some U.S. consumers have taken matters into their own hands to recoup the extra costs they paid on tariffed goods over the last year, including pursuing litigation against U.S. companies, suing for tariff refunds. On Wednesday, plaintiff Matthew Stockov, an Illinois resident, filed a lawsuit against Costco, alleging the big-box retailer raised prices as a result of the tariffs and would receive “double recovery” if it collected the import tax refunds without distributing it back to consumers.
The complaint, filed in the U.S. District Court of the Northern District of Illinois, said Stockov purchased electronics, food, appliances, household items, and hygiene products at inflated prices due to tariffs.
“Costco was able to expand margins during the peak of the IEEPA tariff regime by selectively raising prices on tariffed goods,” the complaint said. “The higher prices consumers paid were a consequence of Costco’s increased cost of importation. Absent the imposition of the unlawful IEEPA tariffs, Costco would not have needed to raise prices on consumers in this way.”
According to the lawsuit, the proposed class could contain more than 100 Costco customers allegedly owed more than $5 million in tariff refunds.
Consumers’ fight for tariff refunds
In May 2025, Costco CFO Gary Millerchip told investors the retailer raised prices on some discretionary products like flowers as a result of the levies, but held prices steady on some tariffed produce items like bananas that were staples for shoppers.
The complaint pointed to previous reporting from Fortune, which cited a Goldman Sachs projection from August 2025 indicating consumers had absorbed 22% of total tariffs costs, but were projected to bear 67% of those costs by October 2025 as more costs were passed down.
Costco did not respond to Fortune’s request for comment, but has indicated plans to pass along tariff refunds to customers. The retailer was among the first companies to sue the Trump administration prior to the Supreme Court ruling in February with the goal to ensure the distribution of tariffs and avoid future uncertainty around the eligibility of refunds. In an earnings presentation earlier this month, CEO Ron Vachris said the company would return recovered tariff payments to shoppers through lowered prices, despite the fact that the “future impact of tariffs remains extremely fluid.”
It’s not just Costco that shoppers want on the hook for distributing refunds. Last month, a consumer similarly sued EssilorLuxottica, the maker of Ray-Ban sunglasses, claiming he was entitled to a tariff refund because the price of one sunglasses model increased from $287 in March 2025 to $304 in May. The plaintiff bought his glasses in August.
FedEx customer Matthew Resier in Miami also filed a proposed class action against the shipping company, alleging FedEx acted as a “customs broker,” collecting $36 in import taxes and fees on a pair of German shoes he had shipped to him. FedEx was one of the first of thousands of companies to sue the Trump administration following the Supreme Court ruling. FedEx sought a court order that would force Customs and Border Protects to repay the full amount it paid in tariffs, which executives previously estimated to be near $1 billion.
The company said it is planning to return tariff charges to customers if the government issues refunds.
“Our intent is straightforward: if refunds are issued to FedEx, we will issue refunds to the shippers and consumers who originally bore those charges,” a spokesperson told Fortune in a statement. “When that will happen and the exact process for requesting and issuing refunds will depend in part on future guidance from the government and the court.”
EssilorLuxittica did not respond to Fortune’s request for comment.
Will American consumers see tariff refunds at all?
Other companies have been explicit about intentions to give refunds to customers. Cards Against Humanity—a game maker which manufactures its products primarily in China—said following the ruling it would transfer recovered tariff charges back to its customers, asking them to fill out an online form with proof of payment during the tariff window.
“When the Trump Administration gives us our tariff refund, we won’t keep it,” the company said in an online post. “We’ll give 100% of the money back to you, our loyal customers, who actually make our business possible.”
Dame Products, a sexual health and wellness company which collected $70,000 in tariff surcharges from customers last year, plans to return the sum to consumers, according to CEO Alexandra Fine.
Details on how and when the government will disperse the refunds, however, remain unclear. The Supreme Court was mum in its decision on any details about the refunds, leaving it to lower trade courts to determine the process to recover charges. Judge Richard Eaton of the U.S. Court of International Trade ruled last week that importers were indeed entitled to tariff refunds.
Trump previously indicated he would fight the refunds, with courts potentially taking years to litigate them. Supply chain experts said it may take 12 to 18 months.
Meanwhile, the tariff revenue, sitting in the U.S. Treasury, is accruing interest as a result of federal regulations. According to a Cato Institute report this month, the refunds are racking up $700 million in interest each month, which will also be passed down to 130 million American taxpaying households.
Cards Against Humanity acknowledged the uncertainty around the refund timeline: “Unfortunately, not even God Himself knows how long that will take.”
