Costco Wholesale says customers could benefit from lower prices if the retailer receives refunds on billions of dollars in tariffs it previously paid on imported goods.

During the company’s latest earnings call, Costco executives said the retailer is among hundreds of companies seeking refunds connected to tariffs imposed in recent years on various imported products. CEO Ron Vachris explained that if the company ultimately receives those funds back, Costco intends to use the money to improve value for shoppers.

“We would turn those tariff refunds into lower prices and better values for our members,” Vachris said, emphasizing that Costco’s business model is centered on passing savings to customers whenever possible.

The refunds come as a result of legal challenges to the tariffs that businesses say were improperly implemented by the Trump administration. Many retailers and importers paid the duties while the cases worked their way through the courts and are now seeking reimbursement if the rulings ultimately invalidate the tariffs.