costco Joining other companies that are not waiting to see Will the Supreme Court reject President Donald Trump imposes broadest import tax yet. They will go to court to demand a refund of the duties paid.
The U.S. Court of International Trade and the U.S. Court of Appeals for the Federal Circuit in Washington ruled earlier this year that Trump’s biggest and boldest import tax was illegal. The case is now before the Supreme Court. During a hearing on Nov. 5, several high court justices expressed doubts about the president’s broad authority to declare a national emergency and impose tariffs on goods from nearly every country on earth.
If a court strikes down the duties, the importer may be entitled to a refund of the duties paid. “It’s uncertain whether refunds will be given and, if so, how much,” said Brent Skorup, a legal fellow at the libertarian Cato Institute. “But the possibility has prompted many companies, including Costco, to file lawsuits in the U.S. Court of International Trade to fight for potential refunds.”
In a complaint filed last week in the U.S. Court of International Trade in New York, Costco said it is now seeking the refund “to ensure that its right to a full refund is not impaired.” The operator of warehouse-sized stores has expressed concern that it will not be able to get a refund once the tariff bill clears Customs and Border Protection, a process Costco said will begin on Dec. 15.
a dream Canned seafood and chicken producer Bumblebee Foods has made similar arguments in the trade tribunal.
Court-challenged tariffs have raised about $90 billion so far. Trump warned back in August that removing tariffs would destroy the U.S. economy and lead to “a repeat of 1929, a Great Depression!”