Trump made the remarks in an interview with CNBC, Reuters reported Monday. He said of companies that do not seek refunds, “I’ll remember them.” He cited Apple, Amazon, Target and Walmart, saying he viewed it positively that they had not yet applied. He also used hostile language toward companies moving ahead with refund claims.
The comments followed a February ruling by the U.S. Supreme Court that found the Trump administration’s tariff measures illegal. After the decision, U.S. Customs and Border Protection activated an electronic refund system to allow companies to reclaim tariffs already paid. The total amount potentially eligible for refunds is estimated at up to $166 billion.
Even with the system running, payments are expected to take time. Reuters reported refunds could take about 60 to 90 days, and legal review is continuing over claims involving firms that provided tariff bonds.
Trump also signaled he does not intend to abandon his tariff policy even as the earlier tariffs were invalidated. He indicated he could impose tariffs again using Section 301 of the Trade Act, though that route is expected to involve more complex procedures and take longer.
Markets have speculated that large companies are likely to file for refunds eventually, given the size of the potential repayments and pressure from shareholders and earnings expectations.