Amazon Refunds Millions in Tariff Costs Amid Ongoing Suit

Amazon has announced that it will refund some of the $600 million in tariff costs it collected in the second quarter, but did not specify how much.

The e-commerce giant expects to return a portion of these refunds after receiving them from U.S. customs, with CFO Brian Olsavsky stating that they represent 'the significant majority' of refunds Amazon expects to receive.

Olsavsky explained that Amazon is not the importer of record for most items sold on its marketplace, and many third-party sellers who account for over 60% of sales often import goods from overseas and apply for tariff refunds.