FedEx, UPS Pledge Tariff Refunds to Customers

FedEx and UPS have stated they will return tariff refunds to their customers. Both shipping carriers have begun the process of filing for some of these tariff refunds. The commitment follows the payment of tariffs by customers to these companies. The refunds pertain to duties paid on certain goods. FedEx and UPS collected these tariffs from their customers. The carriers' announcements indicate their intention to pass these refunds back to those who originally paid the tariffs. This development affects businesses that utilize FedEx and UPS for shipping goods subject to tariffs. The return of these tariff payments could provide some relief to these customers. The process of filing for and distributing these refunds is underway. This article is intended for informational purposes only. It does not constitute investment advice.