John Whelan: Irish exporters set for payback of ‘Liberation Day' tariffs 

Some exporters may have to rely on shipping companies to get money returned

US president Donald Trump holds up a chart of country's 'Liberation Day' tariffs at the White House. The tariffs were declared uncostitutional and are now being paid back. Picture: Chip Somodevilla/Getty Images

Last week, the US Customs authorities launched an online portal to facilitate importers to process claims for the refund of Donald Trump’s ‘Liberation Day' tariffs that were declared unconstitutional by the US Supreme Court. The move is expected to see the flow back of up to $166bn (€141bn) globally to importers.

Major shippers, including UPS, FedEx, and DHL, have advised that they are now filing claims to secure tariff refunds on eligible shipments and will issue the refunds back to customers.

Irish exporters will need to coordinate with their US importers to see if they are eligible for refunds. The refunds are not automatic and are subject to specific procedural requirements, primarily because, technically, the refund belongs to what is known as the 'importer of record' based in the US, not the foreign exporter directly.

Some large exporters, such as the Kerrygold butter exporter Ornua, or the owner of Irish Distillers (makers of Jameson whiskey) Pernod Ricard, have large facilities in the US and would be registered 'importers of record’ through their US offices. Hence, they can file for refunds directly to themselves.

Ornua chief executive Conor Galvin stated in April last year that the 10% tariff would result in a €50m hit to Kerrygold over a year. And whereas it is likely that the company managed to reduce their exposure by frontloading shipments of butter into the US at the end of 2024 and early 2025 in anticipation of tariff, there is obviously room for a sizeable refund under the reclaim /refund ruling.

Irish whiskey exporters, including major players like Irish Distillers, are positioned to gain financially from potential refunds of US tariffs. While US importers technically pay the tariff, the burden often falls on Irish exporters through lower margins or higher on-shelf prices. The refunds would ease this financial pressure, particularly for the €1bn-plus Irish whiskey industry, for which the US is the largest market.

For the general run of smaller Irish exporters, who may have used shippers such as Fedex, UPS, or DHL, they will be relying of these companies to claim the refunds and return the money to them.

Mr Trump told the US media last week that the alternative tariffs that his administration is working to impose, under Section ⁠301 of the Trade Act of 1974, may produce even more revenue than the invalidated tariffs. However, to implement the Section 301 Act for unfair trade practices requires investigations and public comments. Those tariffs are not expected to be imposed until July and are expected to be in the 10% to 15% range on imports from the EU.

"So, we're doing it a different way. We're going to end up with the same - actually, we'll end up with bigger numbers, actually - but it's a little more unwieldy" Mr Trump said. 

A number of major companies such as Apple and Amazon have indicated they are not seeking tariff refunds, despite the fact that they reported many costs associated with the Trump administration tariff regime. Apple had previously disclosed that tariffs raised its costs by roughly $3.3bn (€2.8bn) in the year 2025, while Amazon passed the tariffs on their prices to consumers.

Walmart chief financial officer John David Rainey confirmed the company will pursue reclaiming the tariffs. Analysts estimate that Walmart is owed approximately $10.2bn (€8.7bn) in tariff refunds, placing it among the largest beneficiaries of the ruling.

However, many other major US retailers have been crushed by Trump's trade war and will look to recoup as much as possible from the tariff refund scheme. Brands like Levi Strauss, Gap, Old Navy, Banana Republic, and Athleta have stated they expect to gain materially from the refunds. Leva Strauss chief financial officer Harmit Singh said the company expects to receive $80m (€68m) in refunds of tariffs.

Mr Trump stated last week on US media channels that he would "remember" US companies that did not request refunds, viewing the choice not to do so as a "brilliant" and beneficial move for the nation.