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
Maybe. It depends on if they raised prices first to capture the losses. I know that seems like what a business would do first and what everyone predicted, but did they?
If it’s true, then Costco just needs to give away free hot dogs meals (drink and side) to their patrons for a year.
My small business did not raise prices, and recouping that $6k would make a HUGE difference for us. But I know most companies probably aren’t in the same boat.
Same here. We sold several computer systems at our original quoted price, and just ate the price increase from our vendors.
What do you think quoted price means…? That’s the risk you take when you quote stuff and prices change within the time they accept it.
Lots of material goods change prices daily.
Not holding up your original quoted price is how you lose business and your business in general. You seem to think that you can just choose to not hold up your end of the agreed upon contract? Yikes.
But hey, such a good business doing what you originally agreed to!
There’s a difference between lamenting the reality of honoring a quote after things change and wishing you didn’t need to. They’re saying they wish the government would pay them back for the tariff, not that they wish they could’ve passed it on to the customer.
So they want the government to fix a regular issue with quoted work…? The price is expected to change, that’s why you quote to begin with…. It’s likely they don’t even know how their system works.
That’s even worse lmfao.
It’s quoted work, it’s volatile already, and the customers game it if they know the material goods in going down. Don’t like it? Don’t quote work. It’s not even a relevant detail to their gripe, just bitching for the sake of bitching at this point.
The price would be different with or without tariffs, but complain without realizing how the system works I guess.
Going through my past three days of comments and down voting them all doesn’t help your argument.
They aren’t just saying “wahhh government, pwease pay the difference of this quote” they’re specifically replying to a thread about a company suing the government for tariff reimbursements and talking about a tariff making the price go up after the quote.
Did you miss the detail about the VENDOR increasing price? Their build cost went up, not the price. This would happened irregardless of tariffs, and is expected.
I guess if you ignore details they specify, you could take that from their comment.
But again, person is just bitching for the sake of bitching, the provided details show they either don’t understand how the system work, or just bitching.
They want to applauded for doing what they agreed to, it’s bloody laughable. As a small business owner myself it’s attitudes like this that make the rest look bad.
After going through three days of my comments to down vote them all, you don’t need help making yourself look bad. You handled that quite well yourself.
The article states that Costco did not raise the prices on food staples imported from Central America.