Executives at a number of large US companies say they have begun receiving refunds after part of Donald Trump’s tariff regime was struck down by the Supreme Court, offering the first concrete sign that businesses may recover some of the duties they paid.
Oshkosh Corporation, which makes military and industrial vehicles, and Basic Fun, the toy company behind brands including Care Bears and Lincoln Logs, both said this week that payments had started to arrive after they lodged claims. Matt Field, Oshkosh’s chief financial officer, told CNBC that the company had received an initial portion of its refund request, though it has not yet confirmed the full amount. Basic Fun’s chief executive, Jay Foreman, said the company had so far recovered only around 5% of the sum it sought.
The developments come even as consumer prices remain elevated. The Bureau of Labor Statistics said the Consumer Price Index rose 0.6% in April, taking annual inflation to 3.8%, with higher energy costs a major factor. Excluding food and energy, prices climbed 0.4% in the month, underscoring how tariff relief for importers has yet to translate into lower costs for households.
Foreman said the refunds would help support Basic Fun’s cash flow in 2026 and allow the company to invest in staff, adding that the toy industry was entering its most difficult period of the year. He also said the business planned to raise salaries, announce promotions and increase merit pay to help employees cope with the cost of living.
Trump imposed a 10% tariff on imported goods in April 2025, alongside broader reciprocal levies aimed at trading partners his administration accused of unfair practices. But the Supreme Court later ruled 6-3 that duties imposed under the 1977 International Emergency Economic Powers Act were unlawful. That decision opened the way for affected companies to seek refunds through US Customs and Border Protection.
According to CNBC, Customs and Border Protection has estimated it may have to return $35.46bn tied to 8.3 million shipments. Separate reporting by Axios has said the wider refund bill could ultimately be far larger, with businesses still waiting to see how courts and customs officials will handle claims in practice.
For now, the early payments suggest the refund process is beginning to move, even if full reimbursement may take time. The ruling has also left intact the broader political fight over tariffs, with companies, trade groups and lawmakers still divided over how much of the Trump-era trade agenda can be unwound and how quickly any relief should reach importers, retailers and, eventually, consumers.
Source: Noah Wire Services
Subscribe to Industry Updates
