FedEx sued the Trump administration Monday, seeking a "full refund" of all tariffs it paid the government under the overturned International Emergency Economic Powers Act.
The Supreme Court ruled Friday that President Donald Trump exceeded his presidential authority when he deployed the act to impose sweeping tariffs on almost all U.S. trading partners.
FedEx says that when tariffs were in effect under the IEEPA law, it imported goods from countries subject to the duties.
In September, before the IEEPA tariffs had been rescinded, FedEx said the hit could be $1 billion during fiscal year 2026.
"From a customer perspective, it has been a very stressful period," FedEx chief customer officer Brie Carere said in September.
FedEx's suit appears to be the first refund case brought by a major corporation since the Supreme Court's ruling Friday.
Biden administration Commerce Secretary Gina Raimondo was named to Costco's board of directors days after that lawsuit was filed. »