Costco opens six new stores for spring
Costco is expanding this spring with six new stores opening in Texas, Utah, California and Manitoba.
Tariffs have had a major impact on U.S. businesses since early 2025, and while some executives may have the possibility of refunds in mind, Costco appears to be putting its customers first.
Costco CEO Ron Vacris said in an earnings call on March 5 that the company will return the collected tariffs to members “through lower prices and better value.”
“If, as we have done in the past, fees passed on to our members in any way are recovered through a legal challenge, our approach is to find the best way to return this value to our members,” Vakris added.
Despite this promise, Valkis warned that “the future impact of the tariffs remains very fluid” and that “it is not yet clear what the process will be, what refunds, if any, will be received and when they will be made.”
On the same conference call, Costco executives said the company is not passing on the full amount of the tariffs to consumers through price increases. Instead, it absorbed much of the tariff costs.
Costco’s CEO’s comments came just days after a U.S. Trade Court judge ordered the government to begin paying billions of dollars in refunds to importers who paid tariffs that the Supreme Court last month ruled were illegally levied.
Costco and others sue for refunds
In addition to Costco, other companies such as Walmart, FedEx, Staples, and L’Oréal are suing the federal government for back taxes they have already paid.
Costco’s lawsuit, filed Nov. 28 in the U.S. Court of International Trade in New York and reviewed by USA TODAY, asks the court to find President Trump’s use of the International Emergency Economic Powers Act to impose tariffs illegal.
Costco, the largest U.S. warehouse club operator, said it was the “importer of record” for products affected by the tariffs, but did not specify the amount it was seeking in damages.
Costco said in court records that the lawsuit against the federal government was necessary because importers are not guaranteed a refund even if the Supreme Court cancels the tariffs, a move it made last month.
Contributed by: Reuters
Fernando Cervantes Jr. is a trending news reporter for USA TODAY. Contact us at fernando.cervantes@gannett.com and follow us at X @fern_cerv_.
