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
From the article:
In May, on Costco’s earnings call, Chief Financial Officer Gary Millerchip told investors that about a third of Costco’s sales in the U.S. are imported products. Millerchip said items imported from China represented about 8% of total U.S. sales.
Millerchip said that while Costco was seeing a direct impact from tariffs on imports of some fresh food items from Central and South America, it decided not to increase prices “because they are key staple items” for its customers.
Some of those fresh food items included pineapples and bananas. “We essentially held the price on those to make sure that we’re protecting the member,” he said.
In September, Millerchip told analysts: “We continue to work closely with our suppliers to find ways to mitigate the impact of tariffs, including moving the country of production where it makes sense and consolidating our buying efforts globally to lower the cost of goods across all our markets.”
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
Isn’t corporate profit at the expense of the consumers like … the whole point of capitalism?
Maybe we need a class action saying the same
You didn’t actually read the article did you?
Tbh that’s pretty based. Solid move, Costco.
But also, why are the the first large company to do this?
Walmart switch to electronic price tags making more sense now, to quickly manipulate prices on every taco maneuver
It so they can profile you and adjust their pricing depending on how wealthy you are and if you really need the product. Dynamic pricing is coming and it’s going to be brutal. They’re not collecting these enormous datasets on every household for marketing only.
I just don’t see that happening when we have Shipt and Instantcart. Will they be profiling the shopper or the shoppers customer? Will we have professional “shoppers” that get discounts for their customers? Amazon tried the regional pricing long ago and it didn’t go over well for them.
I came here to post this article. Glad I searched before posting. Dear Costco, please fuck the Trump administration anally with the barbed wire wrapped dildo of courtroom justice.
Are you one of those people that thinks the Epstein files are going to bring Trump down too? Whem you own the justice system it just lies there and licks your filthy taint.
Good on Costco but at best this will maybe minimize the number of card carrying klan rednecks that shop there and thats about it.
I’m cynical enough to believe that nothing will come of the files, but deep down in my core there is a tiny piece of hope.
“reciprocal tariffs”
He just pre-reciprocal-ed the tariffs before the other countries.
