WASHINGTON (AURN News) – A new report from The New York Times says tariff refunds tied to President Donald Trump’s trade policies may not go to the Americans who paid higher prices.
According to the report, while consumers absorbed the cost of tariffs through higher prices, they may not see any of the $166 billion in refunds.
Instead, the refunds are expected to go directly to businesses that paid the tariffs at the import level.
“The beneficiaries may include retail giants, such as Costco, Gap, Home Depot, Kohl’s, Lowe’s, Target and Walmart,” The New York Times reported.
“For some, analysts estimate that the refunds may total into the billions of dollars apiece, leaving them with a choice of whether to keep the money or share it with consumers, even if indirectly in the form of future discounts,” the report continued.
The report also points to the broader impact on American households. A Yale Budget Lab estimate cited by The Times shows price increases tied to tariffs could cost the average household about $1,500.
Click play to listen to the AURN News report from Jamie Jackson:
