When the Supreme Court struck down some of President Trump’s tariffs in February, Asher Rapkin was so happy he jumped up and down in his kitchen with his kids. But the owner of a California watch retailer has spent a frustrating nine months trying to get his $164,000 back. He blames Fed Ex.
Rapkin says he submitted his paperwork in March but his business—Collective Horology—didn’t receive any money until September. The $59,200 wire transfer came without any explanation about which transactions were refunded. “It’s a process that’s deeply flawed,” Rapkin said.
Fed Ex says it is focusing on precision and regulatory compliance and has released hundreds of millions of dollars already. The company is the “importer of record” for thousands of small businesses. Large importers including Walmart and Apple serve as their own “importers of record” and have received $2.9 billion and $2.2 billion back from the U.S., respectively.
Derek Swanson, who imports kitchen knives from Japan, received around $6,000 in refunds from UPS with “no action required.” But he said Fed Ex and DHL had made the process “unduly difficult.” DHL said around 92% of eligible customer refunds have been returned. Fed Ex said it has improved its web portal and will add more automation.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing