alt Hacker NewsI'm gonna have a stroke. The Congressional Budget Office found that consumers paid 70-80% of the tariffs, totaling more than $1000 per household. Where is my refund?
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Not only that, the companies used the tariff excuse to raise prices which will not come back down even if tariffs are fully off the table. Just like the price inflation during COVID.
> big names such as Costco Wholesale, FedEx and Pandora Jewelry—seeking to recoup their money.
Oh, so it was always only about a money transfer from the customers (who fully and wholly bore the cost otlf the tariffs already) to the companies which will now get the refunds for what their customers already covered?
What a robbery.
You did not pay the tariffs. You bore the cost of the tariffs. Those are not the same thing. The refund is due to the party that got the bill for the tariff and paid it-- the importer. What you paid for was for the business not to go bankrupt while this was occurring. If the business wants to refund you for that, they can choose to do so. But you are not owed a refund.
There's going to have to be class actions filed against the retailers if consumers want anything.
In practice, the entities who gave money directly to the US government are the ones who paid the tariff. Those entities should be pressured to refund the consumers, but in practice, that's unlikely.
I (unknowingly) ordered something on Etsy from another country. UPS delivered the items, then sent me a letter requiring I pay the tariff and an extra tariff handling fee. UPS paid the government, so UPS should get their money back from the government, then refund me. I'm not holding my breath.
You'll need to ask companies that are going to get that government refund.
same place where your refund is for congress rolling out 10%+ inflation for years and now your dollar is worth less. its theft actually
Clearly, since calculating the individual refunds are impossible, the companies will be broadly discounting products going forward by their effective tariff rate for roughly the time the tariffs were in effect. /s
Unfortunately, this is what republicans voted for, as approved by their congressional representatives who declined to assert congressional power over taxation. Sadly, we all have to live with it until they wise up or quit voting.