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Stock impact report

FedEx promises to refund customers for ‘illegal’ tariffs [Verge, The]

Bausch + Lomb Corporation Common Shares (BLCO) 
Company Research Source: Verge, The
FedEx plans to pass along any refunds resulting from the Supreme Court's ruling that some of President Donald Trump's tariffs are “illegal.” In a statement on its website , FedEx notes that while “no refund process has been established by the courts,” the company will reimburse shippers and consumers impacted by tariffs if it gets its money back. The delivery giant issued the statement after filing a lawsuit in the US Court of International Trade, asking the Trump administration for a “full refund” of tariff payments. Though FedEx covers the cost of duties and tariffs on a customer's behalf when packages arrive in the US, it bills customers for the fees later on. “Our intent is straightforward: if refunds are issued to FedEx, we will issue refunds to the shippers and consumers who originally bore those charges,” FedEx says. “When that will happen and the exact process for requesting and issuing refunds will depend in part on future guidance from the government and the court. Show less Read more
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