Summary
Costco is seeking refunds on tariffs imposed by President Donald Trump that courts have ruled illegal. The case is now with the Supreme Court, and retail giant Costco has filed actions to ensure it can get refunds if the tariffs are overturned. Other companies like Revlon and Bumble Bee Foods are also pursuing similar actions in court.
Key Facts
- Costco wants refunds for tariffs it paid under Trump’s import taxes.
- U.S. courts in New York and Washington have ruled these tariffs illegal.
- The Supreme Court will now decide on the legality of these tariffs.
- If the court overturns the tariffs, companies may be eligible for refunds.
- Costco and others have filed actions to secure potential refunds.
- Tariffs raised about $90 billion, making this a significant financial issue.
- President Trump claims the tariffs protect the U.S. economy.
- Companies fear delays in refunds if the court process takes too long.
