Billions in Trump tariff refunds go to Apple, Amazon and Nike after Supreme Court ruling—but what happened to the promised $2,000 checks for Americans?

Some of America's biggest companies are collecting billions of dollars in tariff refunds after the US Supreme Court struck down the Trump administration's broad tariff policy. While businesses are receiving massive repayments, most consumers who paid higher prices because of the tariffs are unlikely to get money back.

According to a CNN report, the US government is expected to refund about $166 billion to hundreds of thousands of importers, with more than half of the total already paid. Among the biggest beneficiaries, Apple received an estimated $2.2 billion in refunds during the last quarter, while Amazon collected around $600 million and Nike received roughly $300 million.

The refunds come after the Supreme Court ruled earlier this year that President Donald Trump's sweeping tariffs were unlawful, triggering one of the largest refund programs for importers in recent years.

Why consumers are missing out

Although many shoppers paid higher prices because companies passed on some tariff costs, they cannot legally claim refunds. Under US customs rules, only the businesses or customs brokers that originally paid the tariffs are eligible to file refund claims.

The Tax Foundation estimated that American households paid an average of $1,000 more last year because of the tariffs. However, determining exactly how much of each company's refund came from higher consumer prices is difficult because multiple rounds of tariffs were introduced and many businesses absorbed part of the additional costs themselves.

Amazon says some customers could get refunds

Amazon is one of the few companies that has said it plans to return some money directly to customers in limited cases.

"We have identified a limited set of circumstances where we can trace that we passed specific import charges on to customers, and when we receive those refunds, we will proactively contact affected customers and automatically issue refunds to them," Amazon Chief Financial Officer Brian Olsavsky said.

He added that, in most cases, the company would use the refunds to continue investing in lower prices rather than issuing direct payments. Amazon has not disclosed how many customers may qualify or when those refunds could begin.

Costco, Walmart and others promise lower prices

Costco has also pledged to return value to its members, though not necessarily through cash refunds.

Chief Executive Officer Roland Vachris said the retailer intends to "return to our members in some form the portion of tariffs that were passed on to them." He previously said the company would focus on delivering lower prices and better overall value instead of direct reimbursements.

Other retailers, including Walmart and BJ's, have similarly said they will use tariff refunds to reduce prices for shoppers.

Apple and PepsiCo outline different plans

Apple is taking a different approach. Chief Executive Officer Tim Cook said the company plans to use its tariff refund to expand its manufacturing operations in the United States.

Meanwhile, companies facing rising transportation and energy costs say the refunds will help offset growing expenses. PepsiCo CEO Ramon Laguarta described the refunds as "very handy" for managing higher freight and energy costs linked to ongoing geopolitical tensions.

$2,000 rebate proposal never happened

Before the Supreme Court ruling, the Trump administration had floated the idea of sending $2,000 tariff rebate checks to Americans using tariff revenue. The proposal never moved forward.

As a result, while major corporations continue receiving billions in repayments, most consumers who paid higher prices because of the tariffs are expected to see little or no direct financial benefit.