President Donald Trump said Tuesday that he will “remember” American companies that decline to seek refunds on tariffs his administration imposed unilaterally and were later struck down by the U.S. Supreme Court.
In an interview on CNBC’s “Squawk Box,” Trump responded to questions about major firms such as Apple and Amazon that have not yet filed claims for refunds now available through a new federal portal.
“Brilliant if they don’t do that,” Trump said when asked whether he would view companies pursuing refunds as offensive.
He added, “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.”
The remarks came a day after U.S. Customs and Border Protection launched an online system allowing importers to request more than $160 billion in potential refunds tied to tariffs imposed under the International Emergency Economic Powers Act.
The Supreme Court invalidated those tariffs in a 6–3 decision. Trump signaled frustration with the ruling, noting it did not include provisions shielding the government from repaying duties already collected.
“So, I’m not happy with the Supreme Court, I’ll be honest with you,” he said.
Retailers and importers affected by the tariffs could now recover substantial sums. Levi Strauss expects to receive about $80 million for duties paid on imported denim and apparel, according to its chief financial officer.
Gap Inc., which owns Old Navy, Banana Republic, and Athleta, has also indicated it could benefit, though the company has not quantified the potential refund or included it in its financial outlook.
“We’ve been clear that the tariff impact has been significant to our performance,” Gap CFO Katrina O’Connell said in March. “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.”
O’Connell added, “We’ve not assumed that benefit in our outlook, but certainly we’re tracking it closely, realizing that it could be important to us.”
Other major retailers have similarly avoided factoring potential refunds into earnings guidance as the claims process begins. Companies could revise forecasts if and when refunds are approved.
Trump’s comments highlight continuing friction between his administration and corporate America as businesses weigh whether to pursue refunds tied to tariffs the court has now invalidated.
