American businesses and shoppers paid the vast majority of the billions of dollars collected for the emergency tariffs that the Supreme Court recently ruled illegal. Companies are now pushing to get their money back. But can shoppers expect their own refund?
Probably not, according to Robert Shapiro, an international trade lawyer and partner at the law firm Thompson Coburn.
“And if you do, it’ll be pennies on the dollar,” Shapiro said.
The roughly $180 billion collected under the struck-down tariffs, according to an estimate by Goldman Sachs, was typically paid for directly by businesses, and indirectly by consumers through higher prices. Because those companies often paid the actual customs bill, any refund from the federal government would go to them.
In other words, these tariffs are effectively a tax on Americans, raising money for whatever Trump wants. Do I have that right?
That’s what tariffs have always been.
Yeah, no kidding. It’s probably only Republican voters finally coming around to understanding how Pedonald’s illegal tariffs work.
We were telling them last year, but of course they didn’t listen. Because dog forbid they should listen to a liberal telling them something.
Forget getting the money back. We’re not even gonna see companies lower their prices.
Yep they will all sue for the tariffs, not distribute it among their customers, and not lower prices. Maybe Costco will actually do the right thing but who knows
But hey dows up. White rich people can overlord it. Plebs can’t eat. Trump is making America great again. /S
Great must mean something different to what I was tought.
The US has reached peak stupidity AND peak corruption. The end is very near.
How about all those affected by the global impacts of these tariffs that should not have been?
Maybe we don’t need to buy so much useless shit anymore from these vampire corporations, buy food, fuck all the trinkets and all that, these companies can rot.
Rename tariffs to the “Ignorance tax”
Everybody with two brain cells to rub together knew this would be the result. The average American must be too stupid to tie their shoes and breathe at the same time.
You say that like we have direct control over the federal government.
We knew it was going to end up like this, but there’s nothing we can do peacefully to stop it.
There was something you could have done, but most of you decided to either vote for the pedophile grifter or abstain from voting. Trump isn’t some evil genius that plotted brilliantly to trick the people. He said exactly what he planned to do, and you still elected him. Twice.
I voted against trump, as did 75 million other Americans.
Instructions unclear, shoelaces stuck inside lungs.
