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Justin Ho

๐Ÿ‘ค Speaker
694 total appearances

Appearances Over Time

Podcast Appearances

Marketplace
Consumers might see some tariff refunds โ€” in 2036

Some might be used to stock up on inventory.

Marketplace
Consumers might see some tariff refunds โ€” in 2036

And the rest might go to customers, people who've spent big on tariff-impacted goods.

Marketplace
Consumers might see some tariff refunds โ€” in 2036

People who spent less, maybe paid a couple bucks in price increases, will get a discount code.

Marketplace
Consumers might see some tariff refunds โ€” in 2036

Of course, Robinson doesn't have to do any of this.

Marketplace
Consumers might see some tariff refunds โ€” in 2036

Why return any money at all?

Marketplace
Consumers might see some tariff refunds โ€” in 2036

But there's something else on her mind.

Marketplace
Consumers might see some tariff refunds โ€” in 2036

Consumers have filed class action lawsuits against companies including Costco, Nintendo and Taimou.

Marketplace
Consumers might see some tariff refunds โ€” in 2036

The argument is businesses shouldn't profit from tariff refunds.

Marketplace
Consumers might see some tariff refunds โ€” in 2036

Christine Bartholomew, a law professor at the University at Buffalo, says these cases are going to be tough cases.

Marketplace
Consumers might see some tariff refunds โ€” in 2036

for plaintiffs to win.

Marketplace
Consumers might see some tariff refunds โ€” in 2036

In class actions, you have to be able to prove how the harm can be quantified across the class in a similar fashion.

Marketplace
Consumers might see some tariff refunds โ€” in 2036

Thing is, the tariffs impacted imports from so many countries and had so many different rates, rates that constantly changed.

Marketplace
Consumers might see some tariff refunds โ€” in 2036

Bartholomew says that makes it harder to draw a straight line from tax increases to price increases.

Marketplace
Consumers might see some tariff refunds โ€” in 2036

These kinds of trials can be tedious.

Marketplace
Consumers might see some tariff refunds โ€” in 2036

Imagine modeling the input costs of every item a company sells, from dish soap to diapers, for a jury.

Marketplace
Consumers might see some tariff refunds โ€” in 2036

And that process reveals a lot about how companies price their products, something they really do not want people to know.

Marketplace
Consumers might see some tariff refunds โ€” in 2036

It's why Bartholomew thinks a lot of these cases will be settled.

Marketplace
Consumers might see some tariff refunds โ€” in 2036

That can take as long as a decade.

Marketplace
Consumers might see some tariff refunds โ€” in 2036

It means in the year 2036, you might get a postcard or email saying you're entitled to collect a refund on a set of sheets you bought more than 10 years ago.

Marketplace
Consumers might see some tariff refunds โ€” in 2036

It might simply be that they get a credit for a dollar and they would have to spend 51 cents in a stamp to be able to get their dollar.