Top Global Companies Seek Tariff Refunds from Trump Administration

Lawsuits filed by Fortune Global 500 firms as Supreme Court decides legality of emergency tariffs

Published on Feb. 15, 2026

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Major multinational corporations, including Costco, Toyota, BYD, Goodyear, and Alcoa, have filed lawsuits seeking refunds for billions in tariffs imposed by the Trump administration under the International Emergency Economic Powers Act (IEEPA). With the Supreme Court set to rule on the legality of these tariffs, companies are racing to recoup funds before a potential liquidation process makes refunds impossible.

Why it matters

The outcome of these lawsuits could have significant financial implications for some of the world's largest companies, many of which were heavily impacted by the Trump administration's trade policies. A ruling against the tariffs could open the door for widespread refunds, but companies must act quickly before the window closes on recovering the duties they've paid.

The details

The companies argue that the IEEPA, first enacted in 1977, does not actually authorize the imposition of tariffs, which they claim were imposed illegally. Firms like Costco, Toyota, and BYD are seeking full refunds of the tariffs they've paid, with some warning that the window for recouping the funds is rapidly closing as the customs liquidation process threatens to make the duties unrecoverable. The auto industry, in particular, was heavily affected by the tariffs on steel, aluminum, and imported vehicles.

  • In December 2025, Costco filed a lawsuit seeking a 'full refund' of tariffs paid under the IEEPA.
  • In November 2025, Toyota subsidiaries filed a lawsuit to secure refunds before their tariff payments become 'liquidated and final' by January 31, 2026.
  • On February 9, 2026, Chinese EV maker BYD filed the first lawsuit from a Chinese company against Trump's tariffs.
  • On December 10, 2025, Goodyear Tire & Rubber filed a complaint detailing how the changing tariffs on China affected the company.
  • On November 26, 2025, Alcoa Corp, a top global aluminum producer, filed a complaint for tariff refunds.

The players

Costco

An American membership-only warehouse club that provides a wide selection of merchandise and is currently seeking a full refund of tariffs paid under the IEEPA.

Toyota Tsusho America, Toyota Tsusho Canada, and Toyota Tsusho Nexty Electronics America

Subsidiaries of the Toyota Group that filed a lawsuit in November 2025 to secure refunds of tariffs paid before the customs liquidation process makes the funds unrecoverable.

BYD

A Chinese electric vehicle and battery manufacturer that filed the first lawsuit from a Chinese company against Trump's tariffs, seeking refunds of all IEEPA tariffs paid.

Goodyear Tire & Rubber

A major American tire manufacturer that filed a complaint in December 2025 detailing how the changing tariffs on China affected the company.

Alcoa Corp

One of the world's top producers of aluminum, bauxite, and alumina, which filed a complaint for tariff refunds on November 26, 2025.

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What they’re saying

“The text of IEEPA does not use the word 'tariff' or any term of equivalent meaning.”

— Costco (Court filing)

“And this action is necessary now because the entries for which Plaintiffs paid tariffs imposed under authority of IEEPA will begin to become liquidated and final as a matter of law by January 31, 2026.”

— Toyota Tsusho America, Toyota Tsusho Canada, and Toyota Tsusho Nexty Electronics America (Court filing)

What’s next

The Supreme Court is expected to rule on the legality of the IEEPA tariffs in the coming months, which could pave the way for companies to recoup billions in duties if the levies are deemed unlawful.

The takeaway

These lawsuits highlight the significant financial impact of the Trump administration's trade policies on some of the world's largest companies, many of which are racing to recover tariff payments before a potential window for refunds closes. The outcome could have far-reaching implications for global businesses and the future use of emergency economic powers.