Amazon will give money back to some of you as part of US tariff refund

Ryan Haines / Android AuthorityTL;DR Amazon has confirmed it received $600 million as part of a tariff refund, saying some consumers will get their money back. The US Supreme Court struck down the Trump administration’s sweeping tariffs earlier this year, making companies eligible to request refunds. Amazon hasn’t clarified when it will process these refunds, though customers can expect word from the retailer soon. The Supreme Court dealt a blow to the US government this year by invalidating certain trade tariffs. As a consequence, companies were allowed to request a refund of the tariffs they had paid until that point. E-commerce retailer Amazon has now announced how it will manage these refunds.Speaking to analysts on a conference call, Amazon’s Chief Financial Officer, Brian Olsavsky, confirmed that the company has received $600 million in tariff refunds, and that a portion of it will be returned to the consumers (via Bloomberg).“We have identified a limited set of circumstances where we can trace that we passed specific import charges onto customers, and when we receive those refunds, we will proactively contact affected customers and automatically issue refunds to them,” the executive was quoted as sayingOlsavsky went on to say that Amazon “largely absorbed” the impact of rising prices resulting from the tariffs, rather than passing them on to the customers. More notably, the retail juggernaut reportedly increased its inventory in anticipation of the tariffs, which meant the refund was relatively smaller.Specific details about exactly when and how Amazon intends to refund customers are unclear. Based on the CFO’s phrasing, the retailer may begin reaching out to consumers affected by the tariff-related price bumps in the near future.It’s worth remembering that Amazon reportedly planned to show how much more the customers are paying as a result of the tariffs. However, the company denied ever approving the plan, instead saying it was only “considered” for its low-cost Amazon Haul store.Several other big-name retailers and importers are expecting refunds. While Amazon will return some of that amount to consumers’ pockets, Nintendo has taken a different approach. In response to a class action lawsuit, the manufacturer said people “received exactly what they bargained and paid for,” shutting down any notion that customers would get their money back.Thank you for being part of our community. Read our Comment Policy before posting.