Warren presses U.S. companies to share tariff refunds with customers
Your web browser is not fully supported by CBS News and CBSNews.com. For optimal experience and full features, please upgrade to a modern browser. You can get the new Microsoft Edge at microsoft.com/edge, available to download on all versions of Windows in more than 90 languages. '; document.getElementById('ieblock').setAttribute('style', 'background-color: #B60505; color: #F5F5F5; font-size: 20px; font-family: sans-serif; padding: 100px 100px'); } Latest U.S. Elizabeth Warren is pressing companies entitled to refunds for illegal U.S. tariffs to return the money they are recouping directly to consumers. Warren, a Democrat from Massachusetts, on Friday sent letters to Apple , Amazon, Energizer, Motorola, Nike, Target and Walmart seeking information about the size of the refunds they are receiving for import duties the companies paid under the International Emergency Economic Powers Act (IEEPA).
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Warren also urged the companies to pass the refunds to consumers, saying in the letter that customers "paid higher prices for your products while the tariffs were in place." The U.S. government has refunded more than $100 billion in IEEPA tariffs to businesses, or about 60% of what it owes importers, according to a court filing this week.