Alina Selyuk
๐ค SpeakerAppearances Over Time
Podcast Appearances
And we do know that this is only the initial phase of refunds.
So not all imports will be eligible quite yet, though it is the majority.
Yeah, that's the question I've been getting the most.
And the honest answer is probably not.
The government can only refund the tariffs to whoever actually paid them.
It's called the importer of records.
So whoever shepherded the goods through customs and paid the duty gets that money back.
And sometimes that's the store where you bought something, but sometimes it's like a company that's like,
three steps up the supply chain.
And so a lot of store owners are actually in a bit of a quandary.
I talked to Joe Kimray.
He owns B&W Hardware in North Carolina.
He sells a lot of grills.
And he says last year, manufacturers both hiked their prices to him due to tariffs, and they tried to shield shoppers by requiring that stores offer discounts.
And now, because he's not the direct importer, he's going to have some tough conversations with his suppliers.
He hopes that he can at least get some good deals on new orders going forward.
And I bet we will hear a lot about shoppers pushing for refunds, too.
There are already a few class action lawsuits against some major companies.
Some retailers are already saying, yes, we'll try to pass along any refunds we get.
But this is something I'll be watching for sure.