As companies continue to await details regarding the tariff refund process from the Trump administration, Costco says that it would be open to cutting prices for its customers if or when that money is returned.

In a March 5 call with shareholders reported on by Reuters, Costco CEO Ron Vachris noted that while the tariff refund situation remains "extremely fluid," the company is committed to passing the potential windfall on to its customers. Vachris added that Costco has avoided passing the full cost of tariffs onto consumers for the last year, although it's been challenging to track the exact impact the levies have had on each individual item sold.

"At Costco, we always want to be the first to lower prices and the last to raise them," he said.

Read More: Businesses Brace for Lengthy Battle Over IEEPA Tariff Refunds

As other tariffs on goods from China have been lowered, the company has also cut prices on affected items, including certain textiles, bedding and cookware. Lower-than-expected inflation has led to additional price reductions on staples such as eggs, cheese, coffee and some paper products.

The U.S. Supreme Court struck down President Donald Trump's tariffs implemented under the International Emergency Economic Powers Act (IEEPA) in late February, although the decision did not address the issue of refunds. Days later, the U.S. Court of International Trade ruled the Trump administration to return illegally collected tariff dollars to companies, while granting a request from U.S. Customs and Border Protection to push back the timeline by 45 days to give the agency more time to set up an automated system to process refunds.

The federal government collected roughly $175 billion in IEEPA tariffs through February 2025, and it remains unclear how long it will take to refund that money in the days ahead. The Trump administration could also still appeal the USCIT's decision, potentially setting up a battle that could take months, or even years to fully resolve.