Tariffs, Dems join business and citizens: 'We want 175 billion refunds'
Thousands of appeals after Trump's rejection of tariffs. But Bessent comments: 'It's up to the courts to decide, it will take years and maybe there will be no compensation'. Initiative of governors and opposition in Congress
"It will take years, the courts will have to deal with it for the next five years. And there's no indication in the Court's ruling." Donald Trump, furious after the Supreme Court's rejection of trade tariffs, has already put his hands out. While citizens, companies, industry associations, and even some US states, governed by Democrats, are demanding to be reimbursed for the damage caused by the tariffs.
Scott Bessent, was even more direct: 'The legal battle, however it goes, will certainly last for months, if not years. It will be up to the courts to decide, certainly not us. And I have a feeling,' said the Treasury Secretary, 'that the Americans will never see any refunds in the end.
The Penn Wharton Budget Model, an independent study centre at the University of Pennsylvania, has calculated that refunds could amount to $175 billion, or an average of $1,300 per US household. But defining refunds is complicated, since the costs of tariffs flow into the economy either as taxes paid directly by consumers or in the form of taxes passed on indirectly by importers or absorbed by them.
Appealing are small companies from a wide variety of sectors, as well as large retail giants such as Costco or cosmetics multinationals such as Revlon. The US administration is blocking companies from other countries: 'We are acting quickly to avoid new uncertainties. And we want to avoid refunds for foreign exporting companies,' US Trade Representative Jamieson Greer announced.
Meanwhile, opposition pressure from the Democrats grows. The governor of Illinois, JB Pritzker, was the first to submit the bill to the Trump administration demanding $8.6 billion in compensation for the damage caused by the tariffs to 5.1 million families in his state. California Governor Gavin Newsom has pre-announced similar action. While in Congress, Democrats are about to introduce a bill to force the federal government to pay $175 billion. "Trump's illegal tax plan has already caused permanent damage to American families, small businesses and manufacturers, who have been hit by successive waves of tariffs," said Oregon Democratic Senator Ron Wyden.
