Costco sues the Trump administration, seeking a refund of tariffs
Costco sues the Trump administration, seeking a refund of tariffs
Costco sues the Trump administration, seeking a refund of tariffs
The wholesaler is the latest company to file a lawsuit against a federal agency over the president's signature economic policy.
Costco Wholesale has filed a lawsuit against the Trump administration, asking the Court of International Trade to consider all tariffs collected under the International Emergency Economic Powers Act unlawful.
The company said in a Nov. 28 filing that it is seeking a “full refund” of all IEEPA duties paid as a result of Donald Trump's executive order which imposed what he called "reciprocal" tariffs.
“Because IEEPA does not clearly authorize the President to set tariffs...the Challenged Tariff Orders cannot stand and the defendants are not authorized to implement and collect them,” Costco's lawyer writes in the lawsuit.
Global cosmetics giant Revlon, eyeglass maker EssilorLuxottica, motorcycle manufacturer Kawasaki, canned foods seller Bumble Bee, Japanese auto supplier Yokohama Tire and many smaller firms have also filed similar suits
This is how they transfer wealth from consumers to corporations
We pay the tariffs Corporations get the tariff refund
Trickle up economics as usual
If you look at Costco's actions in the past they have been pretty fair for their customers. Costco is actually in a very good position where they know exactly who bought what and Costco can issue refunds to their customers based on that data. Even if they just do it as 'store credit' it would still be very welcome to most of their customers and that would help to offset Costco's administrative costs of determining the refund amounts for everyone.
I like Costco as much as the next person but they will absolutely not be refunding us based on what we purchased lol
I’ll happily eat these words but im fairly certain I won’t have to
I've also heard that costco doesn't suck to work for as far as retail goes and many will actually work most of their career there.
From the article:
Honestly, that's pretty decent of them.
That’s great but only represents Costco. I purchased a lot of things not from Costco that had explicit tariff surcharges on them
You didn't actually read the article did you?
Maybe. It depends on if they raised prices first to capture the losses. I know that seems like what a business would do first and what everyone predicted, but did they?
If it's true, then Costco just needs to give away free hot dogs meals (drink and side) to their patrons for a year.
My small business did not raise prices, and recouping that $6k would make a HUGE difference for us. But I know most companies probably aren’t in the same boat.
Maybe we need a class action saying the same