Amazon said this week that it received hundreds of millions of dollars in refunds from President Trump’s tariffs and pledged to return some of the profits to its customers.
This follows a Supreme Court decision earlier this year that many of the Trump administration’s tariffs were illegal, prompting the U.S. government to start a process to refund billions of dollars in import taxes to affected companies.
Brian Olsavsky, the chief financial officer of Amazon.com, Inc., said during a Thursday earnings call that the company is “participating in the tariff refund process” and received an amount of $600 million in its second financial quarter.
Olsavsky noted that the company worked on the front end to avoid tariff costs and noted that Amazon is “not the importer of record for the large majority of items sold in our store.”