Costco has just filed a major lawsuit against the Trump administration, and it has everything to do with the tariffs that the president introduced earlier this year.
CNBC repots that Costco filed the lawsuit asking for a full refund of tariffs that they’ve paid since President Donald Trump imposed “reciprocal” and “fentanyl” tariffs earlier this year.
Basically, Costco wants to get ahead of the chance that the Supreme Court will rule that President Trump’s sweeping tariffs are unlawful, and protect their rights to get refunds on all goods that had tariffs placed on them.
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Costco points to a Dec. 15 deadline that could prevent the tariffs that it has already paid on an estimated basis from being refunded.
How Much Money is Costco Suing Trump For?
Although Costco did not say exactly how much money they were looking to recoup, you have to imagine it is pretty significant if they are attempting to take on the United States Government.
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The government has already publicly fought back against the Costco lawsuit that was filed last week, saying “The economic consequences of the failure to uphold President Trump’s lawful tariffs are enormous and this suit highlights that fact.”
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White House spokesman Kush Desai continued, “The White House looks forward to the Supreme Court’s speedy and proper resolution of this matter.”
Which Companies Are Suing Trump Over Tariffs?
There have been multiple other large corporations that have filed similar lawsuits ahead of the Supreme Court’s decision to uphold the tariffs or rule them unlawful.
According to Newsweek, Bumble Bee Foods, eyewear conglomerate EssilorLuxottica –maker of Ray-Ban — Kawasaki Motors, Revlon and Yokohama Tire are among some of the large companies taking action on the tariffs.
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President Trump has said that if the U.S. Government has to pay back companies hundreds of millions of dollars because of these lawsuits, it will pose a major budgetary issue.
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