fintech / news / / The Independent
FedEx and UPS have promised to pay back customers who paid more in shipping costs due to President Donald Trump's tariffs.
FedEx and UPS will refund customers after receiving tariff refunds from Customs and Border Protection.
KEY POINTS
- The government will begin issuing tariff refunds starting on or around May 11 for payments since January 30.
- Only 3 percent of more than 75,000 refund requests have been successfully processed so far.
- Refunds for tariffs paid last year will be handled in a later, separate phase.
- UPS collected approximately $5 billion in tariff revenue and is using its own payment process for refunds.
COMPANIES
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