FedEx got $800M in tariff refunds. What happens now?
At the end of May, FedEx Corp. had received about $800 million in cash refunds from the International Emergency Economic Powers Act tariffs. (Brian Ach/AP Images for FedEx)
Many weeks ago, FedEx Corp. published its 2026 annual report, detailing its financials, strategy, and info on the spinoff of FedEx Freight, now a separately traded company.
One item, in particular, stood out — that as of the end of May, FedEx Corp. had received about $800 million in cash refunds from the International Emergency Economic Powers Act tariffs, which the U.S. Supreme Court struck down in February.
That $800 million is a small portion of the roughly $165 billion in IEEPA tariffs collected before the Supreme Court struck them down, according to the Tax Foundation. But Mary Arno, vice president of regulatory U.S. operations at Dunavant and a licensed customs broker, said FedEx’s refund is still historic.
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FedEx Corp. FedEx Freight John Smith Ross Harris AutoZone Subscriber OnlyThank you for reading The Daily Memphian. Your support is critical.
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Steve Bohnel
Steve Bohnel is a Temple University graduate, originally from Bucks County, Pennsylvania. He’s worked at news organizations in Iowa, Maryland and Pittsburgh, covering local and state politics. He covers health care, transportation and logistics, manufacturing, and technology. He is an avid traveler, an Everton F.C. and Philadelphia sports fan, and likes collecting records and biking around town.
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