Companies start getting tariff refunds after Supreme Court decision

Companies start getting tariff refunds after Supreme Court decision

• After the Supreme Court ruled some of President Donald Trump's tariffs unconstitutional, the first wave of refunds began flowing in on Tuesday.
• Retailer Oshkosh Corporation told CNBC it has begun receiving payments but has not yet verified its total refund amount.
• Also on Tuesday, Trump said he will "fight" having to pay the tariffs back.

Months after the Supreme Court ruled some tariffs were unconstitutional, the first round of tariff refunds has begun flowing in.

Oshkosh Corporation CFO Matt Field confirmed to CNBC that the company has started receiving tariff refunds as of Tuesday.

"Following acceptance of our initial filing, we have begun receiving payments on our tariff refund claims, representing an initial portion of our total claims submitted," Field said.

The company has not yet verified its total refund amount, Field added.

Basic Fun, the company behind Care Bears and Tonka trucks, also told CNBC it began receiving tariff refunds on Tuesday.

CEO Jay Foreman said the refunds so far have only represented 5% of the company's total claim on its early invoices.

"We will utilize the refund dollars to help support our 2026 cash flow and invest in our team. This is the toughest time of the year for toy companies," Foreman said in a statement. "We'll also be announcing to our staff that we will be increasing salaries to help offset cost of living increase, announcing promotions and larger merit increases. We are reinvesting the funds in our business and people."

Logistics companies UPS, FedEx and DHL have previously said that they will file for tariff refunds on behalf of their customers, requiring no further action from them. The first phase of tariff refunds only covers requests for entries that CBP finalized within the past 80 days, though that process could take months to reach customers.

The U.S. Customs and Border Protection said in a court filing that it anticipated paying refunds of $35.46 billion on 8.3 million shipments, as of Monday morning.

In February, the Supreme Court invalidated President Donald Trump's tariffs imposed under the International Emergency Economic Powers Act of 1977. In the months that followed, companies began filing for tariff refunds in a portal, called the Consolidated Administration and Processing of Entries.

In a radio interview with WABC on Tuesday morning, Trump called the tariff refund situation "crazy."

"In theory, you have to pay the tariffs back. We'll fight that," Trump said. "We were taking in fortunes from people that hate us, countries and companies that hate us."

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