Companies Seek Billions in Refunds After Supreme Court Strikes Down Trump Tariffs

Top global companies are pursuing refunds from the U.S. Government following the Supreme Court’s February 20, 2026, ruling that former President Donald Trump’s tariffs, enacted under the International Emergency Economic Powers Act (IEEPA), were illegal. As of December 10, 2025, Customs and Border Protection (CBP) had collected over $129 billion in tariff revenue under IEEPA . While the Supreme Court did not explicitly order the government to repay the revenue, numerous corporations that paid billions in duties are now filing lawsuits to reclaim those funds – some, like Costco, initiated legal action even before the tariffs were deemed unlawful.

On March 4, 2026, the Court of International Trade ordered CBP to return all IEEPA tariffs. CBP acknowledged the order in a court filing on March 6, 2026, but stated it could not immediately comply due to limitations in its existing technology and staffing. The agency indicated it could begin processing refunds by late April 2026 after upgrading its systems .

Companies Filing for Refunds

Costco

Costco is seeking a “full refund” of tariffs paid under IEEPA, arguing the levies were illegally imposed and could soon become unrecoverable. In a lawsuit filed with the Court of International Trade in December 2025, Costco’s legal team asserted that the 1977 law did not authorize the imposition of tariffs, stating, “The text of IEEPA does not apply the word ‘tariff’ or any term of equivalent meaning.” Costco also expressed concern that its imports could enter “liquidation” as early as mid-December, potentially closing the window for refunds. Costco did not disclose the total amount of duties paid.

Toyota

Subsidiaries of Toyota Group – Toyota Tsusho America, Toyota Tsusho Canada, and Toyota Tsusho Nexty Electronics America – filed a lawsuit in November 2025 to secure refunds. The companies argued that action was necessary to prevent their claims from being jeopardized by the impending final liquidation of entries. The automotive sector has been significantly impacted by Trump’s tariffs, which increased duties on vehicles, steel, and aluminum. Toyota estimated that higher import and export rates could cost the company approximately $1.3 billion over a two-month period in May 2025.

BYD

BYD’s lawsuit marks the first from a Chinese automaker challenging Trump’s tariffs. Filed on February 9, 2026, the complaint detailed nine executive orders related to trade affecting the company, including tariffs on cars, auto parts, aluminum, steel, and exports from China. BYD is seeking a refund of “all IEEPA tariffs paid to date” and “all IEEPA tariffs that may be paid in the future.” The company’s imports from China, Canada, Germany, Mexico, and Poland were all affected. While BYD does not currently sell passenger cars in the U.S., it operates a truck plant in Lancaster, California, employing 750 workers.

Goodyear Tire & Rubber

Goodyear Tire & Rubber filed a complaint on December 10, 2025, detailing how tariffs, particularly those imposed on China which changed frequently, impacted the company. Goodyear sources a significant portion of its raw materials from Southeast Asia, where rubber plants are commercially grown. The company has manufacturing facilities in 23 countries, including China, the U.S., Germany, Poland, and Thailand.

Alcoa

Alcoa Corp, a leading producer of aluminum, bauxite, and alumina, filed a complaint for tariff refunds on November 26, 2025. This case is among dozens consolidated with AGS Company Automotive Solutions v. United States Customs and Border Protection, which became the lead case regarding IEEPA duty liquidation as of December 2025. Tariffs on most steel and aluminum imports increased to 50% in June 2025.

FedEx

FedEx filed a lawsuit on February 23, 2026, with the Court of International Trade seeking a “full refund” of all tariffs paid under the overturned IEEPA, becoming the first large corporation to do so after the Supreme Court’s ruling. The company did not specify the amount of the refund it is seeking. FedEx processes 17 million packages daily across hundreds of countries.

Nintendo

Nintendo is suing the federal government over tariffs and seeking a “prompt refund, with interest” for duties paid under IEEPA. The suit was filed in March 2026, shortly after the Supreme Court’s decision. Nintendo announced launch details for the Nintendo Switch 2 on the same day Trump levied sweeping tariffs on April 9, 2025, and subsequently delayed preorders and raised prices on several products, including the original Switch console.