The Trump administration has returned more than $100 billion to U.S. businesses and importers that paid his global tariffs, and the money is quickly heating up the economy. The refunds are already boosting bottom lines, and 40 companies in the S&P 500 have recorded $9.6 billion, with Apple alone reporting nearly $2.2 billion, according to a Wall Street Journal tally. Apollo Chief Economist Torsten Slok estimated that the refund money will contribute about 0.2 percentage point to third-quarter GDP growth, which the Atlanta Fed says is tracking toward 4.3%. That represents a steep acceleration from the second quarter's gain of just 1.5%, which was skewed by high AI-related imports, as well as 2.1% in the first quarter. The refunds so far represent about 60% of the $166 billion in revenues collected from import taxes under the International Emergency Economic Powers Act, which were struck down by the Supreme Court in February.
Apple Inc.Apple reported nearly $2.2 billion in tariff refunds, boosting its bottom line.
Amazon.com Inc
Applovin Corp
FedEx Corporation
Nike Inc