Trump says he’ll ‘remember’ the companies that don’t seek refunds after the Supreme Court ruled most of his tariffs illegal

Two months after the U.S. Supreme Court ruled that many of Trump’s reciprocal tariffs were illegal, U.S. Customs and Border Patrol opened a portal for businesses to claim their share of the more than $160 billion that’s been earmarked for tariff refunds, CNBC reports (1).

On April 21, Trump was asked about the refunds, particularly the big companies that haven’t filed their requests — like Amazon and Apple — and a reporter who asked the question seemed to insinuate that these companies could be worried about “offending” the president.

Trump, who seemed to be delighted with the idea that big businesses may potentially fear him, said he won’t soon forget about these companies.

“Brilliant if they don’t do that [claim a tariff refund],” Trump told CNBC (1). “Actually, if they don’t do that, they’ve got to know me very well. I’m very honored by what you just said. If they don’t do that, I’ll remember them.”

Some companies are claiming their refunds

While Trump says he won’t forget the companies that don’t claim their refund, it’s safe to assume he’ll also remember the ones that do.

Take Levi Strauss, for example. As CNBC reports, in early April, Chief Financial Officer Harmit Singh said the company will claim its refund and expects to receive approximately $80 million after paying tariffs on imported denim, among other items.

Gap Inc., which owns its namesake brand as well as Banana Republic, Old Navy and Athleta, also plans to claim its refund, though the company withheld the specific amount.

“We’ve been clear that the tariff impact has been significant to our performance,” Gap CFO Katrina O’Connell shared with CNBC (1). “As an importer of record, we’re definitely working on gaining clarity on whether we can recognize a refund. Because the situation is fluid right now as to how, when, or whether any refunds will ultimately be realized.”

To get a sense of which businesses are planning to issue tariff credits or rebates to consumers, Money reached out to 19 different companies. However, only three replied, and all of them — UPS, FedEx and DHL — are in the logistics industry.

“Some customers paid duties on shipments for which those shippers acted as the importers of record,” Money reported (3). “The three companies say that money will be given back when and if they receive it.”

SCOTUS rules Trump’s tariffs are illegal

On February 20, the U.S. Supreme Court ruled that the tariffs Trump imposed under the International Emergency Economic Powers Act (IEEPA) were unlawful.

“In an opinion authored by Chief Justice Roberts, the Court held that IEEPA does not give the President authority to impose tariffs,” according to Congress (2).

Trump expressed his disappointment with the decision.