Recently, I asked a simple question: Costco shoppers paid billions in tariffs, so who gets the refund?
Now we have the first real answer.
On its Sept. 24 earnings call, Costco said it collected $184 million in tariff refunds during its fiscal fourth quarter: $174 million in refunds plus $10 million in interest. The company said it put much of that money into lower prices, and it plans to keep doing so.
Quick background. The refunds exist because the Supreme Court ruled 6-3 in February that the emergency-powers law the president relied on didn’t authorize those tariffs. So the government owes importers their money back.
And who really paid those...
Read the full article here
