Costco has initiated legal action against the U.S. administration concerning tariffs imposed during the previous presidential term. The retail corporation aims to secure a refund should the Supreme Court determine the import duties to be unlawful.
The Supreme Court is currently reviewing the legality of tariffs applied to various imports. During oral arguments last month, justices posed questions regarding the legal basis of these tariffs. Lower courts had previously concluded that emergency economic powers were utilized in setting a majority of these new levies.
Costco joins numerous companies from various sectors that have filed lawsuits seeking refunds. These include Revlon, Bumble Bee, and Kawasaki. Marc Busch, a trade law expert at Georgetown University, observed that while smaller companies initially led these legal challenges, larger corporations are now participating.
In its filing with the U.S. Court of International Trade, Costco did not disclose the specific amount it has paid in tariffs. However, the company expressed concerns regarding the potential inability to recoup all paid amounts, even if the Supreme Court ultimately overturns the tariff regime.
In May, Costco executives reported that approximately one-third of products sold in the U.S. are sourced internationally, predominantly non-food items.