Tariffs cost consumers, refunds unlikely despite lawsuits

1 min read
Source: CNN
Tariffs cost consumers, refunds unlikely despite lawsuits
Photo: CNN
TL;DR Summary

Costco and other importers are suing to speed tariff refunds, but even if funds are returned, they would mostly go to the importer of record rather than consumers who paid higher prices; the Supreme Court ruling that tariffs were illegal has left refunds unclear and potentially years away. Economists estimate consumers bore about a quarter of tariff costs via higher prices (roughly $1,000 per American household), and Democrats are pressing for consumer refunds while the Trump administration has floated rebates; several companies including Costco and FedEx have filed suits, but in practice consumer refunds remain unlikely.

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