Tag

Consumers

All articles tagged with #consumers

business2 days ago•336 min saved

Tariff refunds: big windfalls for retailers, little relief for shoppers

U.S. tariff refunds total about $100 billion have largely gone to importers and shippers, not to consumers who paid higher prices. Retailers such as Walmart (about $2.9B), Apple (~$2.2B), Target, Ford, Home Depot, Nike, and Amazon disclosed large refunds and some plan to lower prices or offset costs, but it’s unclear how much—if any—will reach shoppers. Pricing is influenced by many factors beyond tariffs, making the “refund” impact murky. Analysts estimate only about 15%–20% of refunds will be passed back to consumers. Smaller businesses faced losses that refunds didn’t fully cover, underscoring that tariff windfalls largely benefit companies, while consumer relief remains limited.

via CNN|

#business #consumers #pricing

business8 days ago•333 min saved

Strawberry prices could rise as import tariffs loom

U.S. investigators are weighing tariffs on winter-harvested strawberries imported from Mexico after a Florida growers coalition argued imports are sold at unfair prices, a move that could raise winter strawberry prices for Americans. Mexico supplied about 98% of U.S. strawberry imports last year, with over $1 billion in shipments, and a preliminary Commerce Department finding is due by Aug. 18, with final decisions later.

via CNN|

#business #consumers #mexico

personal-finance11 days ago•15 min saved

PA Shoppers Begin Receiving Tariff Refunds From Carriers

Shippers such as FedEx, UPS, and DHL are starting to pass tariff refunds back to consumers who paid Trump-era tariffs last year, after the Supreme Court ended those tariffs. About $100 billion has already been refunded to companies, while direct consumer refunds are rolling out in phases to credit cards or bank accounts. Retailers mostly plan to use refunds to lower prices, rather than issue broad consumer refunds; FedEx has begun refunds around $800 million, UPS has paid $5 billion and is pursuing refunds, and DHL says it has filed claims for most eligible shipments.

via Patch|

#consumers #personal-finance #refunds

business18 days ago•17 min saved

Illinois Seeks Direct Consumer Tariff Refunds as U.S. Reimburses $100B

The Trump-era tariffs have refunded about $100 billion so far—roughly 60% of what the government says is owed—with the CAPE portal processing over 252,000 refund declarations and total refunds expected around $166 billion. Refunds have gone to importers (Nike and Amazon among the largest), while shoppers have borne most of the cost through higher prices; estimates place average household tariff payments around $1,000 to $2,000. Illinois Gov. JB Pritzker has urged direct consumer payments and backed a Tariff Relief for Consumers Act to require rebates to shoppers as tariff-related litigation continues.

via WWD|

#business #cape #consumers

business23 days ago•1 min saved

Amazon to pass tariff refunds back to shoppers after Supreme Court ruling

Amazon says it has about $600 million in tariff refunds and will automatically return a portion to eligible customers after the Supreme Court ruled many Trump-era tariffs illegal.

via WEAU|

#amazon #business #consumers

business1 month ago•14 min saved

Costco's June Sales Jump on Membership-Fueled Demand

Costco Wholesale reported June net sales of $29.24 billion, up 10.6% from a year earlier, with the first 44 weeks totaling $250.43 billion, up 10.1%. The results reflect continued shopper traffic fueled by its membership-based model as consumers seek value, and while the growth underscores a stable business, investors will be watching margins to ensure profitability keeps pace with sales expansion.

via Yahoo Finance|

#business #consumers #costco

business4 months ago•78 min saved

Capital One's $425M settlement: who qualifies and how to file a claim

Capital One has agreed to a $425 million settlement to resolve claims related to the 2019 data breach that exposed customers’ personal information. The settlement provides compensation to affected customers and may include access to credit monitoring and other protections. Eligibility generally covers Capital One customers whose data were compromised in the breach. To claim, go to the official settlement administrator’s site, file a claim, verify your identity and breach details, and submit by the deadline to receive cash relief and/or other benefits.

via Yahoo Finance|

#business #capital-one #class-action

business4 months ago•16 min saved

States Seal Landmark Antitrust Victory Over Live Nation

A coalition of more than 30 state attorneys general won a landmark monopolization case against Live Nation (Ticketmaster); the DOJ initially led the case but withdrew in March, and the Manhattan trial proceeded on short notice with the states prevailing. The author, Gail Slater, recounts the extensive discovery and testimony, including Slack messages that suggested price gouging, as central to the victory. She frames the win as a common-sense, bipartisan application of antitrust law that protects consumers and markets, and credits the DOJ team for laying the foundation. The piece argues this outcome shows Americans’ intuitive grasp of fair competition and calls for continued antitrust enforcement to keep capitalism fair.

via Rolling Stone|

#antitrust #business #consumers

business4 months ago•6 min saved

United–American merger chatter: big regulatory hurdles and big questions for travelers

Rumors of a United–American merger have circulated, but such a tie-up faces steep antitrust scrutiny and regulatory hurdles. Even if proposed, it would likely require asset divestitures at key hubs and could reduce competition, potentially driving up fares and impacting loyalty programs, with bipartisan skepticism from lawmakers and an uncertain outcome.

via The Points Guy|

#airline-merger #airlines #antitrust

business6 months ago•343 min saved

Tariffs cost consumers, refunds unlikely despite lawsuits

Costco and other importers are suing to speed tariff refunds, but even if funds are returned, they would mostly go to the importer of record rather than consumers who paid higher prices; the Supreme Court ruling that tariffs were illegal has left refunds unclear and potentially years away. Economists estimate consumers bore about a quarter of tariff costs via higher prices (roughly $1,000 per American household), and Democrats are pressing for consumer refunds while the Trump administration has floated rebates; several companies including Costco and FedEx have filed suits, but in practice consumer refunds remain unlikely.

via CNN|

#business #consumers #costco

world6 months ago•5 min saved

Denmark Sees Spike in Boycott Apps Amid Greenland Tensions

Amid heightened tensions over Greenland, Danish developers report a surge in downloads for boycott-oriented apps like Made O’Meter and NonUSA that help shoppers identify US-made products and find European alternatives. While experts say the practical impact on the US economy would be small due to limited US shelf presence, the apps reflect a personal, consumption-based protest and spotlight how tech can empower quick consumer reactions to geopolitical events.

via AP News|

#apps #boycott #consumers

business7 months ago•11 min saved

Tariffs as Hidden Tax: Americans Bear 96% of Trump’s Tariffs, Kiel Study Finds

A Kiel Institute study finds that 96% of Trump-era tariffs were passed through to American importers and consumers, effectively making tariffs a consumption tax borne by U.S. households rather than foreign exporters. The analysis, along with inflation forecasts from economists Orszag and Posen predicting higher inflation in 2026, suggests tariff costs will increasingly affect prices even as the White House defends the policy. With the Supreme Court’s ruling still pending, the tariff program remains in limbo amid ongoing economic uncertainty.

via latimes.com|

#business #consumers #inflation

economy7 months ago•28 min saved

New study finds Americans bear nearly all tariff costs as exports contract

A Kiel Institute study analyzing more than 25 million shipment records worth nearly $4 trillion found exporters absorbed only about 4% of tariff costs, with American importers passing roughly 96% of the burden to U.S. consumers as export volumes collapse and shipments shift to other markets. Tariffs have raised about $200 billion in revenue, but mostly paid by Americans, acting as a consumption tax, while manufacturing jobs have not rebounded and legal questions about the tariffs’ use linger.

via Fortune|

#american-manufacturing #consumers #economy

business7 months ago•35 min saved

JPMorgan Warns a 10% Card-Rate Cap Could Forcibly Reshape Its Card Business

JPMorgan Chase warned that President Trump’s call for a 10% cap on credit-card rates would force a major overhaul of its card business and could harm consumers and the broader economy, with CFO Jeremy Barnum saying the bank would have to significantly change its card operations and that ‘everything is on the table’ to oppose the proposal; industry groups called the measure devastating, and the policy debate contributed to a drop in JPMorgan’s stock as lawmakers consider related legislation like the Credit Card Competition Act.

via Bloomberg.com|

#business #consumers #credit-cards

business10 months ago•1 min saved

US Consumers Bear Over Half of $1.2T Tariff Costs in 2023

A study from S&P Global estimates that President Trump's tariffs will cost U.S. companies over $1.2 trillion in 2025, with most of this cost passed on to consumers, highlighting the economic impact of the ongoing trade tensions and tariffs.

via Axios|

#business #consumers #costs