Forbes Daily: Consumers Want Refunds On Tariffs, Too
It’s not just companies seeking tariff refunds—consumers are trying to get their money back, too.
When the Supreme Court struck down President Donald Trump’s sweeping tariff agenda last month, it paved the way for thousands of companies to file lawsuits against the Trump Administration. But data shows that much of the money companies paid in tariffs was passed on as increased costs to consumers. Enter the class action lawsuit: at least five of which have been proposed against firms like Costco and FedEx.
If the legal actions are successful, those who shopped at the businesses while the tariffs were in effect—or, in the case of FedEx, paid tariffs on goods that were shipped to them—could be eligible to receive money.
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President Donald Trump said in an interview Sunday that he has demanded that at least seven countries send warships to reopen the Strait of Hormuz. With the critical oil shipping lane still impassable due to the ongoing war, a key U.S. oil benchmark ticked up just over $100 per barrel early Monday.
All three major stock indexes shed at least 1.3% last week amid the war in the Middle East and surging oil prices. The Dow Jones Industrial Average tumbled nearly 2% to its lowest point since November, while the S&P 500 and Nasdaq lost 1.6% and 1.3%, respectively.
A spate of data released Friday painted an increasingly negative picture of the U.S. economy—most of it from before the Iran war began.
The economy grew less than previously reported in the fourth quarter of 2025, with the Department of Commerce revising GDP growth from 1.4% to just 0.7%. That’s a major shift from 4.4% in the previous quarter, and reflects downward revisions to exports, consumer spending, government spending and investment, according to the........
