Costco sues US government to preserve tariff refunds if Trump loses appeal [CNN]
ESSILOR LXTTCA UNSP/ADR (ESLOY)
NASDAQ:AMEX Investor Relations:
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Source: CNN
In a complaint filed Friday in the US Court of International Trade in Manhattan, Costco ( COST ) said Trump's use of the International Emergency Economic Powers Act to impose tariffs left it uncertain whether businesses can recoup sums they should not have paid. Based in Issaquah, Washington, Costco joined dozens of companies suing to safeguard potential refunds. It is also among the largest, with $275.2 billion of revenue in its fiscal year ending August 31. The nation's largest warehouse club operator said US Customs and Border Protection denied its request for more time to make final calculations of tariffs owed, threatening its right to complete refunds even if the Supreme Court rules against Trump. Customs and Border Protection had no immediate comment. Costco did not immediately respond to a request for comment. Other companies that have sued to preserve refunds include Bumble Bee Foods, Ray-Ban eyeglass maker EssilorLuxottica, Kawasaki Motors, Revlon and Yokohama Tire,
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News
- EssilorLuxottica (OTCMKTS:ESLOY) had its "buy" rating reaffirmed by analysts at The Goldman Sachs Group, Inc..MarketBeat
- Surprise tariffs are hitting shoppers this holiday season [MSNBC.com]MSNBC.com
- Costco sues Trump administration for full refund of tariffs paid on imported goods [MSNBC.com]MSNBC.com
- New FDA-approved glasses can slow nearsightedness in kids [Los Angeles Times (CA)]Los Angeles Times
- Costco sues US government over tariff refunds ahead of Supreme Court ruling [CNN]CNN