Costco sues for Trump tariff refunds

costco The warehouse is suing the Trump administration to refund the full amount of new tariffs paid by the retail giant this year and prevent those import duties from continuing to be assessed while the Supreme Court case is ongoing.

Costco, in The case was filed on FridayHe noted that even if the Supreme Court ultimately upholds lower court decisions concluding that President Donald Trump lacks the legal authority to impose those mandates, he risks losing the money he has already paid to enforce the tariffs.

The company stated that despite the Supreme Court’s decision to this effect, the period until December 15 is approaching when the tariffs already paid will not be refundable.

Costco also wants a judge in the case to ban U.S. Customs and Border Protection from continuing to collect tariffs while the Supreme Court case continues.

The lawsuit states that CBP denied Costco’s request to extend the deadline for so-called clearance, which is the final calculation of tariffs assessed on imported products.

The case was filed in the US Court of International Trade. Dozens of other companies have filed similar lawsuits to protect their rights to potential refunds if the Supreme Court rules the tariffs are illegal.

Trump invoked the International Emergency Economic Powers Act earlier this year, imposing sweeping tariffs on imports from many countries.

In Costco’s case, “the Court and the Federal Circuit cautioned that an importer may not have the legal right to seek a refund of duties for liquidated entries, even if the underlying legality of a tariff is later determined to be unlawful.” The statement was included.

“The economic consequences of failing to uphold President Trump’s legal tariffs are profound, and this lawsuit highlights that fact,” White House spokesman Kush Desai said in a statement about Costco’s lawsuit. he said.

“The White House looks forward to the Supreme Court’s swift and appropriate resolution of this matter,” Desai said. he said.

CNBC requested comment from Costco.

The Trump administration has warned of the potential consequences of having to refund hundreds of millions of dollars in tariffs already paid if the Supreme Court upholds lower court rulings that Trump does not have the authority to unilaterally impose these duties under IEEPA.