Latest News Updates From Mae Anderson

The refunds to consumers are the last step in a monthslong process that kicked off in February when the Supreme Court struck down sweeping tariffs implemented by President Donald Trump in March 2025.

Even after oil starts flowing again from the Middle East, it could take a while for consumers to see a difference at local fuel pumps, supermarkets and other places they shop.

A U.S. Customs and Border Protection agency official is set to testify in federal court about the government's plans for refunding billions of dollars that importers paid before the Supreme Court struck down Trump's tariffs.

The Trump administration said that it intended to appeal a federal judge’s order to allow all companies that paid the invalidated duties to seek refunds, not just the ones that filed lawsuits.

Companies must submit declarations listing the goods on which they put billions of dollars toward the import taxes the Supreme Court subsequently struck down.

Logistics giant FedEx said in a Feb. 26 statement that it will return any tariff refund it might get to shippers and customers who paid them.

In December, SBA issued a policy note that said up to 5% of a business could be noncitizen owned. But the current policy rescinds that, as well as making lawful permanent residents ineligible, too.

The UPS cargo plane crash on Nov. 4 at the company’s global aviation hub in Kentucky, which killed at least 12, will temporarily disrupt the supply chain and result in some shipping delays.

Having to pay import taxes on small parcels from other countries likely will be a big change for some small businesses and online shoppers.

Small businesses are bracing for stiff tariffs that President-elect Donald Trump has proposed as one of his first actions when he takes office.