Slok published his analysis August 15 Slok estimated that tariff refunds would contribute roughly 0.2 percentage points to that growth rate — meaning the refunds alone account for roughly 4.7% of the projected increase.
Companies have received tariff refunds. What about consumers? Some companies are providing refunds while others decline.
By law, the refunds go to the importers of record who paid the duties at the border, not directly to the consumers who absorbed the cost through higher prices.
The checks were never authorized
The Trump administration has paid about $100 billion in tariff refunds to businesses, but what about consumers?
Senate Bill 254 prohibits retail businesses from imposing a surcharge on customers who pay with a debit card instead of cash, check, credit card or another form of payment.
Australia and the European Union were among U.S. trade partners who condemned the tariffs.
Affordability pain is real, but resilient consumers are still infusing money into the economy, Brian Moynihan , CEO of Bank of America, said at the Axios House News Shapers summit in Washington, D.C. Why it matters: The U.S. economy sits on a remarkably durable foundation , supporting consumer spending even with hot inflation. But at the same time, Americans tell pollsters economic conditions is at rock bottom, fueling a political reckoning over affordability. - "There's a say-do paradox," Moynihan said. "The question is, what are people actually doing?" Driving the news: Two things can be true, Moynihan explained to Axios' Mike Allen. - "Affordability is a real issue," he said. But he added, "what people are doing is still spending…
The Federal Trade Commission (FTC) has intensified its crackdown on companies falsely labeling products as "Made in the USA."
The Federal Trade Commission has taken unprecedented steps to crack down on products falsely labeled “Made in the USA” in a bid to protect American consumers from being scammed and American manufacturers from being undercut. PULSE POINTS WHAT HAPPENED: The Federal Trade Commission (FTC) has intensified its crackdown on companies falsely labeling products as “Made in the USA.” DETAIL: FTC Chairman Andrew Ferguson said the Trump administration is taking “unprecedentedly aggressive steps” to protect American manufacturers and consumers. “We want our economy to thrive, and not just the consumer part of the economy… We want the manufacturing part of the economy to thrive. And so, if you’re going to try to take advantage of…Open
Data: U.S. Treasury Monthly Treasury Statement (net customs duties) ; Chart: Courtenay Brown/Axios Corporate America is getting an accidental stimulus. Billions of dollars collected through court-invalidated tariffs are flowing back to businesses confronting stubborn cost pressures. Why it matters: The refunds amount to a reversal of the tariff shock that squeezed profits and raised prices in the first place. - Companies that have discussed their plans say they generally expect to use the money to offset inflation rather than generate much new economic activity. Many will absorb higher costs tied to the Iran war and future tariffs — and, in some cases, cut consumer prices. What they're saying: PepsiCo chief financial officer Steve…