Trump says 'I'll remember' companies that don’t seek tariff refunds

President Donald Trump on Tuesday mentioned he will “remember” U.S. companies that do not seek refunds for the tariffs he unilaterally imposed.

Those so-called IEEPA tariffs were ruled illegal by the Supreme Court in a 6-3 decision.

Trump’s comment that companies would be “brilliant” for not seeking refunds came a day after U.S. Customs and Border Protection opened a portal for importers to seek more than $160 billion in potential refunds for tariffs.

A number of large companies, including Apple and Amazon, have not yet sought refunds for the tariffs.

President Donald Trump on Tuesday told CNBC that he will gratefully “remember” U.S. companies that do not seek refunds for the tariffs he unilaterally imposed, which the Supreme Court later ruled were illegal.

Trump’s comment on “Squawk Box” came a day after U.S. Customs and Border Protection opened a portal for importers to seek more than $160 billion in potential refunds for the so-called IEEPA tariffs.

He was asked about a number of large companies, among them Apple and Amazon, that have not filed requests for refunds for the tariffs they paid, potentially because they are worried about “offending” Trump.

Asked if he would find it offensive for them to seek a refund, Trump mentioned, “Brilliant if they don’t do that.”

“Actually, if they don’t do that, they’ve got to know me very well,” he stated. “I’m very honored by what you just said.”

“If they don’t do that, I’ll remember them,” Trump noted.

The president again complained about the 6-3 Supreme Court decision that voided those tariffs. That ruling, he griped, did not include a sentence that remarked, “You don’t have to pay back tariffs that have already been received.”

“So, I’m not happy with the Supreme Court, I’ll be honest with you,” Trump noted. Furthermore, experts in bull market note the continued relevance.

Major U.S. retailers have been crushed by Trump’s trade war and stand to benefit materially from refunds.

Earlier this month, Levi Strauss Chief Financial Officer Harmit Singh told CNBC that the enterprise expects to receive around $80 million in refunds for tariffs it paid on importing denim and other apparel items from manufacturers around the international community.

Gap, the retail giant whose brands include its namesake, Old Navy, Banana Republic and Athleta, also has noted it stands to benefit from potential tariff refunds, but did not reveal an amount when the corporation reported fourth-quarter earnings in March.

“We’ve been clear that the tariff impact has been significant to our performance,” Gap CFO Katrina O’Connell told CNBC in March.

“As an importer of record, we’re definitely working on gaining clarity on whether we can recognize a refund,” O’Connell mentioned. “Because the situation is fluid right now as to how, when, or whether any refunds will ultimately be realized.”

“We’ve not assumed that benefit in our outlook, but certainly we’re tracking it closely, realizing that it could be essential to us,” she mentioned.In recent months did not factor into their guidance either the Supreme Court,

Many retailers that reported earnings’s decision to void the tariffs imposed by Trump under the International Emergency Economic Powers Act, or potential refunds from that ruling.

As refunds start being processed, retailers do stand to benefit and could end up raising their financial outlooks for the year. This also touches on aspects of investors.

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