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| Topic: Costco sues Trump Administration for tariff refund | |
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Costco sues Trump admin seeking tariff refunds before Supreme Court rules if they’re illegal www.cnbc.com/2025/12/01/costco-sues-trump-tariffs-trade-supreme-court.html?msockid=136866ffc3276491118c70e3c2b565fa ● Costco filed a lawsuit asking for a full refund of tariffs the warehouse club giant has paid since President Donald Trump imposed “reciprocal” and “fentanyl” tariffs earlier this year. ● Costco’s suit in the U.S. Court of International Trade notes that it might not be able to get the refunds later, even if the Supreme Court upholds lower court rulings that the tariffs are illegal. ● Trump invoked the International Emergency Economic Powers Act to impose those often high tariffs on imports from most of the world’s nations. In August, the U.S. Court of Appeals for the Federal Circuit, in a 7-4 ruling, upheld a prior decision by the Court of International Trade that found Trump did not have that power.
“The core Congressional power to impose taxes such as tariffs is vested exclusively in the legislative branch by the Constitution,” the Federal Circuit said in its ruling. “Tariffs are a core Congressional power.” So not only did Trump's tariffs cost $billions in US commerce when he insulted our biggest trading partners, they'll probably have to pay all the money back, having squandered every bit of good will the US had previously enjoyed. What do you think? |
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