FDX Shares Hit Record Highs, But COST Dips After Trump Administration Initiates $166B Tariff Refund Process

• The Trump Administration will initiate tariff refunds amounting to $166 billion following a US Supreme Court loss. 
• But, several US importers, including FedEx, CostCo, UPS and EssilorLuxottica are facing lawsuits as consumers challenge higher tariff costs passed on to the customer by these firms. 
• More than 330,000 importers had paid a combined $166 billion in tariffs across more than 53 million shipments.

Shares of major U.S. importers came into sharp focus after the Trump administration began accepting refund claims for $166 billion in tariffs that were struck down by the Supreme Court in February.

FedEx shares surged to record highs on Monday, while most other importers’ shares were in the red as many consumers filed lawsuits. As tariff pressure rose, most businesses either bore the cost, while some passed the added cost on to customers, spurring lawsuits. 

The US Supreme Court, in February 2026, held that the International Emergency Economic Powers Act (IEEPA) does not authorize the President to impose tariffs absent clear congressional authorization.

CostCo shares slipped only marginally despite the lawsuits. Its recent dividend announcement, strong sales, and an analyst upgrade have offset some of the lawsuit pressure. 

How Are FedEx, CostCo Dealing With The Lawsuits?

Several federal cases have been filed against Ray-Ban maker EssilorLuxottica and FedEx, while a class-action lawsuit has been filed against Costco by consumers claiming they should also benefit from the tariff refunds. 

FedEx has said it would return tariff refunds to customers, while Costco chief executive Ron Vachris had said the retailer plans to pass on any tariff refunds to customers "through lower prices and better values".

What are retailers saying?

One user said that FDX and UPS have seen their best days as it is getting twice as expensive to ship anything. 

https://stocktwits.com/MHuntswollen/message/650742851

While another user claimed that COST shares are good for buy-the-dip strategies. 

https://stocktwits.com/crume75/message/650817704

FDX shares have gained 35% while COST rose 17% year-to-date.

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