- 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
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!
You are absolutely correct, and I should have been more specific.
Our quotes are good for 30 days, and we were outside of that time frame. We would have been within our right to adjust prices at that point.