- cross-posted to:
- world@quokk.au
- cross-posted to:
- world@quokk.au
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
Tbh that’s pretty based. Solid move, Costco.
But also, why are the the first large company to do this?
They’re not. Read the article. Or at least the first line of the summary.
From the bottom of the article:
That probably does make Costco the most “known” company to sue.
EssilorLuxottica might be “unknown” but it is the eyeglass maker with a functional monopoly on the industry and parent company to the many better known ‘companies’ such as: Ray-Ban, Oakley, Persol, Oliver Peoples, Vogue Eyewear, LensCrafters, Pearle Vision, Sunglass Hut, EyeMed etc.
I’m aware, I was just pointing out that Costco is more of a household name (and much larger company).
Costco is apparently the third largest retailer in the world. . So it’s a slightly bigger deal when they sue over the tariffs.
Revlon and Kawasaki are well known international brands…
I didn’t say they weren’t known, just that Costco is certainly the most known (for the US). If you just look at revenue Kawasaki has 5% of the footprint of Costco and Revlon hasn’t posted anything since it’s bankruptcy in 2023 (from what I could find). Revenue might not directly relate to if a company is a household name, but I think it gives a general sense.
Also, I was just noting that Costco is a bigger name. All the companies listed are notable.
But this is planet America.