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Tariff Refunds Benefit Companies Over Consumers

New York Times Business •
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The Supreme Court's ruling against Trump's illegal tariffs will return $166 billion to importers, not consumers who bore most tariff costs. Corporate giants stand to reap windfalls while families receive no direct refunds, creating a stark economic disparity in the wake of the administration's controversial trade policies.

Retail behemoths like Walmart could receive over $10 billion, with Target and Home Depot also expecting substantial refunds. Companies face pressure to share the unexpected gains, though most remain silent on their plans. Only Costco has promised to pass savings to customers.

The refund process has sparked political tension and class-action lawsuits as consumers demand companies not profit twice from the tariffs. Business groups acknowledge the challenge of directly returning funds but suggest consumers may benefit indirectly through future price reductions.