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- cross-posted to:
- [email protected]
- business
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
You didn’t actually read the article did you?
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
The article states that on a bunch of items they’ve just been eating the cost so they’ve been paying the tariffs instead of passing them on. For those cases, there is nothing to refund to the consumers.
Yeah but it doesn’t state they’ve eaten the tariffs on everything just certain staple items
And I would wager those items they’ve eaten the cost on, is what they’re seeking compensation on.
Probably not, but they did state last year that the extra money they made from the gas station (they kept it competitive with other places) was used to keep the yearly “admission” price the same.
Nah as it stands, costco is a bro.
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.
My stepson works for Costco. They are a fantastic employer compared to other retailers. They also do legitimately promote from within, including for business office professional positions.
Fwiw the people seem cheerful enough. At least not dead inside like Wal mart or any other big chain.
So, they shouldn’t challenge the tariffs?
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
Ok? This article is about Costco
It’s also generally about corporations receiving the tariff refunds and not us
No. That’s what we call “hijacking the thread”, which is just plain rude.
¯\_(ツ)_/¯
Sorry, but you’re wrong here. Discussing the obvious implications (if CostCo wins, so does every other import company) is a natural thing to do in this location. If you don’t like it, don’t follow those threads.
The article literally says Costco is just the latest company to file suit and lists a bunch of other companies too
The article is literally about Costco. They throw in a single line at the very end about some other companies.
Yes it’s about Costco filing suit to get a refund for the tariffs they paid, just like every other company that filed the same suit as mentioned
It is not just about Costco it’s about corporations suing the government to get tariff refunds
Maybe we need a class action saying the same
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.
Same here. We sold several computer systems at our original quoted price, and just ate the price increase from our vendors.
What do you think quoted price means…? That’s the risk you take when you quote stuff and prices change within the time they accept it.
Lots of material goods change prices daily.
Not holding up your original quoted price is how you lose business and your business in general. You seem to think that you can just choose to not hold up your end of the agreed upon contract? Yikes.
But hey, such a good business doing what you originally agreed to!
There’s a difference between lamenting the reality of honoring a quote after things change and wishing you didn’t need to. They’re saying they wish the government would pay them back for the tariff, not that they wish they could’ve passed it on to the customer.
So they want the government to fix a regular issue with quoted work…? The price is expected to change, that’s why you quote to begin with…. It’s likely they don’t even know how their system works.
That’s even worse lmfao.
It’s quoted work, it’s volatile already, and the customers game it if they know the material goods in going down. Don’t like it? Don’t quote work. It’s not even a relevant detail to their gripe, just bitching for the sake of bitching at this point.
The price would be different with or without tariffs, but complain without realizing how the system works I guess.
Going through my past three days of comments and down voting them all doesn’t help your argument.
They aren’t just saying “wahhh government, pwease pay the difference of this quote” they’re specifically replying to a thread about a company suing the government for tariff reimbursements and talking about a tariff making the price go up after the quote.
Did you miss the detail about the VENDOR increasing price? Their build cost went up, not the price. This would happened irregardless of tariffs, and is expected.
I guess if you ignore details they specify, you could take that from their comment.
But again, person is just bitching for the sake of bitching, the provided details show they either don’t understand how the system work, or just bitching.
They want to applauded for doing what they agreed to, it’s bloody laughable. As a small business owner myself it’s attitudes like this that make the rest look bad.
The article states that Costco did not raise the prices on food staples imported from Central America.