U.S. Treasury Chief Says FedEx Suing for Tariff Refunds Must Explain How It Will Return Money to Consumers
U.S. Secretary of the Treasury Scott Bessent said that FedEx, the logistics company that has filed a lawsuit seeking tariff refunds, must spell out how it plans to return the refunded money to consumers.
On the 25th (local time), Reuters reported that in an interview with NBC News, Secretary Bessent said, "Raj Subramaniam, Chief Executive Officer (CEO) of FedEx, needs to explain how he will return that money to consumers if he did in fact pass those costs on to them," calling for such clarification.
On the 23rd, FedEx filed a lawsuit with the U.S. Court of International Trade in New York seeking a full refund of the tariffs imposed under the Donald Trump administration. It is the first major company to demand tariff refunds following the February 20 ruling by the U.S. Supreme Court that the Trump administration's reciprocal tariffs based on the International Emergency Economic Powers Act (IEEPA) were unlawful. Subsequently, French cosmetics company L'Oreal, British home appliance maker Dyson, and contact lens manufacturer Bausch + Lomb also filed lawsuits seeking tariff refunds.
Secretary Bessent voiced doubts about CEO Subramaniam’s participation in the U.S.-China Business Council, saying, "Given that China is the country that pays the most U.S. tariffs, the role this company plays on the council is very interesting." However, he did not provide further details, such as specific evidence of any illegal conduct.
Regarding Secretary Bessent’s remarks, FedEx told Reuters, "If (tariff) refunds are made to FedEx, we will refund the money to the shippers and consumers who initially bore those costs," adding, "The timing of the refunds and the specific procedures for payment may vary depending on future guidance from the government and the courts."
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Asked whether the Trump administration is prepared to carry out tariff refunds if ordered by the court, Secretary Bessent replied, "We will follow the court’s ruling." Currently, tariff collections estimated at about 175 billion dollars are expected to be subject to potential refunds.
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