Costco sues the Trump administration, seeking a refund of tariffs

Costco has sued the Trump administration, asking the Court of International Trade to declare all tariffs imposed under the International Emergency Economic Powers Act (IEEPA) unlawful and seek a full refund.

The company argues that IEEPA does not authorize the president to impose import duties, a use of the law first attempted by Trump.

The Supreme Court is currently reviewing the legality of Trump’s tariff program, with justices appearing skeptical of the government’s arguments.

Costco, which imports a significant portion of its U.S. sales, said tariffs have affected products like fresh fruits, though it has largely avoided raising prices, NBC News has reported.

Costco joins other major companies, including Revlon and Kawasaki, in seeking tariff refunds through the courts, while U.S. Customs reported $205 billion in IEEPA tariffs collected through October.

read more: https://www.nbcnews.com/business/business-news/costco-sues-trump-tariff-refunds-rcna246860

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