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In 2026, numerous U.S. businesses, including major companies like Walmart, Apple, Target, and Nike, are receiving tariff refunds after the Supreme Court invalidated many tariffs collected under emergency powers. Refunds are primarily directed to importers that directly paid the tariffs, while consumers generally do not receive direct refunds. Shipping companies such as UPS, FedEx, and DHL are expected to pass refunds to customers, whereas retailers, who often incorporated tariffs into prices, face challenges in passing the savings directly.
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