US Supreme Court Ruling Triggers $9.6 Billion in Tariff Refunds for Major Companies

The US Supreme Court's ruling that tariffs imposed by the US government are unconstitutional has led to major companies receiving refunds worth $9.6 billion, according to The Wall Street Journal.

More than 40 companies, including those in the S&P 500 index, reported a total of $9.6 billion in tariff refunds in the last quarter, with at least $2.1 billion already paid out in cash.

Apple led the list with $2.18 billion in refunds, followed by Nike ($986 million), FedEx ($800 million), and Amazon ($640 million).

The refund directly affected companies' quarterly performance improvements, with Apple's EPS raised by 11 cents due to the tariff refund.