FedEx and UPS plan to pass tariff refunds back to customers after a Supreme Court ruling struck down duties imposed under IEEPA.

UPS and FedEx, two of the largest delivery companies in the United States, vowed to share tariff refunds with their customers.

Tim Cook, during Apple's earnings call on Thursday, said the company planned to apply for a tariff refund and will reinvest the funds in the US.

With $166 billion in IEEPA tariffs at stake, the Supreme Court's landmark ruling has triggered a wave of refund claims.

Some automakers this week got a first-quarter profit boost – at least on paper - from future refunds of tariff payments they made to the U.S. government, risking potential ire from U.S. President Donald Trump.

Consumer goods importers are going to benefit from these refunds.

The federal government has started to process refunds to businesses that paid higher taxes on goods they imported to the U.S. because of the tariffs President Trump enacted last year, but