business / news / / Reuters
Thousands of companies rushed to file claims after a refund system went live last week.
About $166 billion in U.S. tariff collections are now potentially refundable to companies.
KEY POINTS
- UPS has applied for $5 billion in tariff refunds, choosing not to sue the government.
- FedEx filed a lawsuit against the U.S. government in February over tariff refund procedures.
- Both UPS and FedEx plan to return refunded tariffs to customers once received from CBP.
COMPANIES
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