the Voice of
The Communist League of Revolutionary Workers–Internationalist
“The emancipation of the working class will only be achieved by the working class itself.”
— Karl Marx
the Voice of
The Communist League of Revolutionary Workers–Internationalist
“The emancipation of the working class will only be achieved by the working class itself.”
— Karl Marx
May 4, 2026
The Trump administration was ordered to refund the tariffs it previously collected under the International Emergency Economic Powers Act (IEEPA) because the Supreme Court struck them down in February 2026. But only businesses would be refunded for these tariffs, worth $166 billion (plus interest reaching $650 million each month). The consumers will get zilch in return, although we paid for these tariffs through skyrocketing prices!
When these extra tariffs were first imposed, U.S. companies cried out that they could do nothing about the taxes and had to raise the prices of their goods. And they did so, passing close to 100% of these taxes on to consumers.
The Budget Lab at Yale estimated that these price increases amounted to about $1,680 per household in 2025. These tariffs became an additional burden on us on top of already high prices caused by the inflation that hit after the COVID epidemic began.
For companies, the tariff refund looks very much like a windfall increase in net profit. Walmart is applying for $10.2 billion, Target for $2.2 billion, Nike for $1 billion, and General Motors for $500 million. Quite a gain out of nothing!
They won’t reduce prices even after they’re refunded. So, we will continue to get robbed at the cash register even more.