US Tariff Refunds Hit $135 Billion: What It Means for International Shoppers

The $135 billion question: who keeps the tariff refunds?

In February, the Supreme Court struck down the tariffs imposed under the International Emergency Economic Powers Act (IEEPA). In the months since, US Customs and Border Protection (CBP) opened a dedicated portal to process returns, and the money has started flowing back. As of September 11, CBP had paid out nearly $135 billion in IEEPA tariff refunds, and more is on the way because the agency is set to launch the ability to process finally liquidated entries next month, according to Supply Chain Dive.

So who is keeping the cash? A survey from the Atlanta Federal Reserve, conducted in August, found that most firms are holding onto the refunded money. But the Fed also noted that “a nontrivial portion” of refunds is being directed toward customers and employees — a use the researchers described as surprising relative to standard economic models.

What major retailers are doing with the money

The Atlanta Fed survey and company statements paint a mixed picture. Here is the range of responses Supply Chain Dive reported:

• Lowering prices: Walmart and BJ’s Wholesale Club have explicitly stated they are using tariff refunds to reduce prices for shoppers. Burlington is leveraging the funds to “deliver sharper values.”
• Offsetting costs: Lowe’s and The Home Depot are using the refunds to absorb rising supply-chain costs rather than passing savings to customers.
• Employee bonuses: Williams-Sonoma is flowing some recouped funds back to employees, including the teams that handled the refund process.
• Keeping it all: Nintendo publicly stated that customers are not entitled to tariff refund benefits, though it later ran a “customer appreciation sale” it credited, in part, to the returns.

On the operational side, the Atlanta Fed found that nearly 70 percent of firms are handling the IEEPA refund process with internal staff, while roughly 22 percent brought in a third-party provider. A slim minority — including American Eagle Outfitters and The Children’s Place — sold a portion of their refund rights to shore up cash reserves.

Why this matters if you buy from US stores and ship abroad

If you shop US retailers — whether for personal use or for a small resale operation — tariffs were quietly embedded in the cost of every import entry. For a package crossing into the US for a US-based seller to restock, or for a small business pulling inventory from a US warehouse, those levies raised the landed cost of goods. Now that the legal basis for those specific tariffs has been struck down and billions are flowing back, two things shift in your favor.

First, retailers that pass refunds into lower shelf prices mean the base cost of the items you order drops. Even a modest 5 to 10 percent reduction on a $40 gadget or a $120 pair of shoes compounds across a consolidation shipment. Second, the customs landscape is in a transitional phase. CBP is still working through finally liquidated entries, and procedures are being updated. For small importers and resellers, that means documentation and entry processes may still be evolving, which can affect processing times and the likelihood of holds at the border.

The practical takeaway: if you source from US stores, the tariff layer that inflated your costs over the past year is now legally gone and financially reversing. You do not need to wait for retailers to advertise a price drop — the underlying duty that fed into those prices is no longer in effect.

For buyers consolidating multiple US store orders into a single international shipment, keeping an eye on whether your preferred retailer has actually adjusted prices is worth doing. A quick check on your usual cart total before you commit to a shipping quote can reveal whether the refund wave has reached your specific product category. And if you are a small reseller pulling inventory through a US address, the transitional customs environment is a good reason to confirm your broker or forwarding partner is using the latest entry procedures, since CBP is still rolling out new processing capabilities.

Viabox, for example, handles the receiving, consolidation, and international forwarding side of that equation — you shop any US store, packages arrive at a real US address, and the shipment is forwarded to your country once you are ready, with no monthly fees. It is one less variable to manage while the tariff and customs landscape is still settling.

What to watch in the coming weeks

CBP is expected to begin processing finally liquidated entries next month, which will unlock another wave of refunds for importers whose entries were still open. The Atlanta Fed noted that the full economic ripple of $135 billion-plus in returned duties will not show up in retail pricing overnight. But the direction is set: the tariff layer is being unwound, and the retailers with the most to lose from higher prices are the ones most likely to move first.

For international shoppers and small resellers, that is a quiet but real cost reduction — one that does not require a coupon code, just a recalculated cart before you hit the shipping quote.

If you are ready to take advantage of the current US retail pricing and forward your packages internationally without a membership fee, Viabox can set you up with a US shipping address in minutes. Shop, consolidate, and ship on your schedule.