Latest / INSIGHT TODAY / Trump admin launches refund site after Supreme Court struck down Trump's global tariffs

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Trump admin launches refund site after Supreme Court struck down Trump's global tariffs · INSIGHT TODAY

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  Speaker 1: Today, business owners who lost millions of dollars because of
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  Speaker 1: President Trump's tariffs have a chance to get some of
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  Speaker 1: that money back. The federal government has launched a website
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  Speaker 1: for refund claims, exactly two months after the Supreme Court
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  Speaker 1: ruled that the taxes on imports were unlawful. US Customs
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  Speaker 1: estimates it owes a total of one hundred and sixty
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  Speaker 1: six billion dollars in tariff free funds and plans to
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  Speaker 1: roll out the system in phases. Joining me now, Rick Woldenberg,
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  Speaker 1: CEO and Chairman of Learning Resources, lead plaintiff in that
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  Speaker 1: successful Supreme Court case. It's good to see you, Rick,
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  Speaker 1: I know you logged into the portal this morning. So
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  Speaker 1: what was your experience.
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  Speaker 2: With that? Pretty well, we submitted about five thousand entries.
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  Speaker 2: I think ten lines were held up, but otherwise it
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  Speaker 2: was a success. It was about ninety five percent of
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  Speaker 2: the entries that we made that involved ib tariffs.
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  Speaker 1: So have you been able to figure out like how
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  Speaker 1: much you're going to get back versus how much it
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  Speaker 1: costs you?
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  Speaker 2: Well, we'll get back all of the IPA tariffs that
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  Speaker 2: we paid plus interest. We submitted about ninety five percent.
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  Speaker 2: It was over ten million dollars, So that will be
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  Speaker 2: welcome when it's received, and I expect the rest of
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  Speaker 2: it will straggle in they have this will be done
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  Speaker 2: in phases, and so later phases will I think, pick
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  Speaker 2: up the rest of it.
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  Speaker 1: Can you possibly calculate that when you had to raise
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  Speaker 1: some prices how much business you lost? So you got
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  Speaker 1: the tear if money back, But do you think you're
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  Speaker 1: still a net negative?
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  Speaker 2: You know, I haven't spent a lot of time thinking
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  Speaker 2: about that. Honestly, I don't know what business we lost.
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  Speaker 2: I think the economy generally shrunk because consumers lost confidence.
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  Speaker 2: And obviously you hear about it every day on TV
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  Speaker 2: about the affordability crisis. We've been very concerned about that.
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  Speaker 2: We make educational products. We don't want them to be unaffordable.
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  Speaker 2: So we tried to do what we could to moderate
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  Speaker 2: the price increase, and we've withheld on price increases since
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  Speaker 2: then to kind of average down, if you will. We
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  Speaker 2: want to make our products affordable.
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  Speaker 1: It was a big deal for you to come forward
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  Speaker 1: and end up at a Supreme Court. It's not something
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  Speaker 1: that happens every day to a guy who runs an
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  Speaker 1: educational company. What did it feel like logging on and
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  Speaker 1: seeing that you were going to get millions of dollars back,
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  Speaker 1: and know that there are countless people out there having
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  Speaker 1: the same experience you had because of what you did.
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  Speaker 2: Well. To me, this is the demonstration of the American system.
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  Speaker 2: This is how it's supposed to work. We were right
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  Speaker 2: on the law, and the court stood behind us. It's
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  Speaker 2: very gratifying. Obviously, one hundred and seventy five billion dollar
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  Speaker 2: judgment that will get repaid, that includes thet It's a
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  Speaker 2: huge sum of money, and it's very exciting to have
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  Speaker 2: brought that victory to many, many, many thousands of importers
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  Speaker 2: that that paid the tariff that they that wasn't entitled
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  Speaker 2: and so very gratifying. It also was a way to
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  Speaker 2: stand up for our system of government separation of powers.
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  Speaker 2: I take seriously that this is part of history.
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  Speaker 1: Since the Supreme Court's ruling, the Trump administration has imposed
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  Speaker 1: a temporary ten percent global tariff is working again. On
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  Speaker 1: permanent tariffs. You've called it a sham. Would you go
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  Speaker 1: back to court.
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  Speaker 2: It's something that we have to evaluate. The Section one
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  Speaker 2: twenty two tariffs are being challenged by actually the other
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  Speaker 2: litigans that joined us in the Supreme Court, and there
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  Speaker 2: was a hearing a week ago that looked at that
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  Speaker 2: question in a very detailed way. So we're hopeful that
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  Speaker 2: there may be the possibility of relieve on those tariffs.
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  Speaker 2: And right now there's a section there's two section three
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  Speaker 2: oh one investigations that I refer to as shams because
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  Speaker 2: it was announced right after the decision that the government
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  Speaker 2: felt entitled to imposed tariffs under other provisions. The Constitution
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  Speaker 2: says quite clearly that taxes start in Congress, and so
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  Speaker 2: there is no right to impose taxes outside of Congress.
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  Speaker 2: So can't you can't make up your mind to tax
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  Speaker 2: me and then go looking for a reason to do it.
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  Speaker 2: That's a sham.
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  Speaker 1: Rick Woldenberg, thank you so much, and again, congratulations, glad
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  Speaker 1: this is working out for you.
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  Speaker 2: Thank you as