CFO Survey Shows Limited Plans to Share Potential Tariff Refunds with Customers

Supreme Court Ruling on Tariffs The Supreme Court struck down a large portion of President Donald Trump's tariff agenda earlier this year.

The court ruled in February that reciprocal tariffs were illegal. On the same day as the Supreme Court ruling in February, Trump announced a new global tariff rate of 10% under Section 122 of the Trade Act of 1974 for a period of 150 days. Trump later said he would increase global tariffs to 15%.

A judge ordered the government to prepare to potentially pay billions of dollars in refunds to importers who paid the tariffs.

CFO Survey on Refund Applications and Sharing In a CNBC CFO Council survey taken between March 23 and April 2, 12 of 25 chief financial officers said their company plans to apply for tariff refunds.

None of the 25 chief financial officers in the survey said they intend to directly share tariff refund money with customers. S. Six of the 25 chief financial officers in the survey said they did not plan to pass on any portion of the tariff refunds they might receive.

Seven of the 25 chief financial officers were not sure about passing on any portion of the tariff refunds they might receive. Twelve of the 25 chief financial officers answered 'not applicable' regarding passing on tariff refunds. Twelve of the CFOs in the survey said they do not plan to apply for tariff refunds.

Expectations for Tariff Repayment Timeline Ten of the executives in the C-suite said it could take a year or longer to receive tariff repayment.

Three of the CFOs in the survey expected tariff repayment this year. com reported on the survey findings regarding CFO plans for tariff refunds.

Legislative Responses to Tariff Impacts Josh Hawley, R-Mo.

, introduced the American Worker Rebate Act of 2025, which pitched a stimulus check funded with tariff revenue. The Senate referred the American Worker Rebate Act of 2025 to the Committee on Finance, where it remains. , introduced the Tariff Refunds for Working Families Act, which would tap the $166 billion collected by the tariffs to fund a new tax rebate for those hit by higher costs for everyday items.

The Tariff Refunds for Working Families Act has been referred to the Committee on Finance.