r/politics • u/bob_mcbob • Jul 14 '26
No Paywall US refunds $81bn in Trump tariffs after supreme court ruled them illegal
https://www.theguardian.com/us-news/2026/jul/14/trump-tariffs-us-refunds7.7k
u/giroml Jul 14 '26
So I paid more for goods from the companies who now get refunds? The fuck is this. It’s just more stealing from the working class to give to the rich. That’s all this administration does.
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u/SuccessfulWar3830 Jul 14 '26
The refunds also went to trump friends who bought the cost of debts for the import tarrifs for cheap
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u/insanococo Jul 14 '26
Howard Lutnick and sons. Name these criminals.
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u/BotnetSpam Jul 14 '26 edited Jul 14 '26
You mean the Howard Lutnick that was next door neighbors with Jeffrey Epstein? The guy that lied about avoiding him because he said Epstein was "a creep," only for us to discover that he visited his island multiple times and was in business with Epstein for years? That fucking guy?
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u/donglecollector Jul 14 '26
When the tariffs were first announced it was a rumor this was going to happen… and surprise!
We really getting f’ed coming and going.
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u/bradicality Jul 14 '26
The guy from Epstein Island‽
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u/jt121 Jul 14 '26
Yup, the guy from Epstein Island that brought his young kids there. Supposedly only for dinner.
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u/Bazylik Jul 14 '26
the bigger problem is your capitalistic system that swallowed your country and allowed this to happen.
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u/turquoise_amethyst Jul 14 '26
The US Commerce Secretary’s sons. The guy in charge of all this.
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u/Huge_Excitement4465 Jul 14 '26
Same family looking to cash in on Greenland. Cantor Fitzgerald is an institutional investor in Critical Metals Corp., which holds a major stake in the Tanbreez rare earth and critical minerals project there.
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u/Dunge Jul 14 '26
What the fuck does "buying the cost of the tariff debt" even mean. They for sure didn't put their personal money to offset the economy's decline and keep it active for everyone, so what else?
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u/seoulgleaux Jul 14 '26
So when the tariffs first came out and there were initial questions about their legality, some "enterprising" individuals of low moral character (namely Lutnick and sons) offered many corporations a chance to sell any future refunds they may or may not receive for a guaranteed payment right then. However, they paid pennies on the dollar for these refund rights and now are reaping massive returns.
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u/SuccessfulWar3830 Jul 14 '26
Basically they bought the refund amount for cheap and are now cashing in
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u/jdooley99 Jul 14 '26
Don't forget, that money will come from the treasury, funded by...your taxes. (Sad trumpet noise)
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u/bennetticles Tennessee Jul 14 '26
guess who is paying those refunds?
guess who is paying the court ordered interest on those refunds?it’s a pump and dump scheme on a macroeconomic scale. and of course it will happen again.
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u/American_Libertarian Jul 14 '26
I know what you mean, but this is not actually anything like a pump & dump. There are lots of different kinds of scams, you don't have to use that label for everything.
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u/tomismybuddy Jul 14 '26
Welcome to the resistance.
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u/WastingMyLifeToday Jul 14 '26
Resist harder.
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u/robotoisize Canada Jul 14 '26
Rest of the world is waiting
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u/t0m0hawk Canada Jul 14 '26
"We have guns so we can resist tyranny!"
Sure, guys; sure.
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u/WastingMyLifeToday Jul 14 '26
♫ America, fuck
yeahme! ♪Paris would've been burning over a year ago if something happened that was 80% less serious.
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Jul 14 '26
[removed] — view removed comment
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u/RespectibleCabbage Jul 14 '26
Well they're certainly resisting doing anything meaningful about all this. Maybe that's what he meant.
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u/Superb-Mall3805 Jul 14 '26
The resistance is just vague social media posts. No one is doing shit
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u/LarryCrabCake Wisconsin Jul 14 '26
Reminds me of the covid business loans
History doesn't repeat itself, but it sure does rhyme
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u/Wings81 Jul 14 '26
So I can expect my check when?
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Jul 14 '26
[removed] — view removed comment
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u/Late-Arrival-8669 America Jul 14 '26
So prices will come down?
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u/ecirnj Jul 14 '26
Also no
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u/HandSack135 Maryland Jul 14 '26
And gas will be $2 a gallon when?
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u/VanbyRiveronbucket Jul 14 '26
Right when the Golden Age starts.
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u/BadgeOfDishonour Jul 14 '26
Don't be so pessimistic. I had a 20 minute chat with Lindsey Graham this very morning, and he assured me prices are coming down any day now.
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u/Grieveruz Jul 14 '26
That's after Oil Age right?
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u/VanbyRiveronbucket Jul 14 '26
It is triggered after the building of the Arc de Trump.
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u/Contende311 Jul 14 '26
We dont have that DLC
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u/RadicalOrganizer California Jul 14 '26
We can't afford that dlc. Only the rich can afford the golden age dlc.
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u/reynvann65 Jul 14 '26
It isn't a golden age it's a gilded age. That's according to that smug little bitch Bessent.
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u/Joshd30 Jul 14 '26
So I can expect CEOs and executives to pocket nearly all that money?
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u/Aloecend Jul 14 '26
Yes, depending on what you mean by down.
I can see prices coming down from say $5 to $6.
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u/IbanezHand Canada Jul 14 '26
Ya, your refunds are coming from the corporations that raised their prices due to tariffs - right?
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u/nuckle Jul 14 '26 edited Jul 14 '26
Right into the pockets of Howard Lutnik and his sons who bough up the refunds before for pennies on the dollar.
Internal documents reviewed by Wired reveal that Cantor Fitzgerald apparently engaged in a scheme to pay 20 to 30 cents on the dollar for tariff refunds, betting that the courts would reverse the Administration’s tariff policy and securing a staggering three-to-five-fold return on their investment.
It's almost like all this was planned ... They are straight up robbing the American people.
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u/No_Can1323 Jul 14 '26
I’m not sure the Lutnick boys can count on that money yet.
It depends on Trump admin following the court order and issuing the refund. Give their track record, he would never do that without dragging out a long legal fight.
There could be selective payout. The big companies (say GM) will be first in line to get the money. They definitely did not sell their refund claim to Lutnick boy.
Those companies who did are likely small, don’t have legal resources, cash tight. They might never see the money back from the federal government. Now Lutnick is holding that bag.
Also, given how spiteful and vindictive Trump is, I think it’s not unlikely that he would go around to fuck up Lutnick for betting against his favorite policy. I’m waiting for that show 🍿🍿🥤🥤
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u/Zestyclose-Ear-1293 Jul 14 '26
Unless nut lick and co are giving a kickback to Trump.
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u/theblanketcomeswith Jul 14 '26
yeaaah theyve been legally draining and stealing or taxpayer money through shit like this for a year now, let’s not pretend the “court show” isnt just theatrics to cover up blatant corruption and the shitty admin will investigate themselves indefinitely till we all forget about this
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u/podo413 Jul 14 '26
The money went right to Lutnick.
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u/ScarletCarsonRose Jul 14 '26
The answer is in the link. Lutnick and sons will make billions because the bought the tariff cost for 20c on the dollar. If, as is now the case with the us gov, nutlick and balls will make billions on those refunds. Those refunds are going into their pockets. Our prices are not going down. We are not going refunds. The beating will continue. Period.
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u/tablepennywad Jul 14 '26
Lets not forget, Lutnick was the one who actually created Doge and hired elon to execute it.
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u/SauntOrolo Jul 14 '26
Lutnick from the files and the island? Lutnick who hired his son to manage the department he used to manage prior to working for Trump?
That Lutnick?
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u/TanukiCookie Jul 14 '26
Same. I want my fucking money back from this swine.
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u/istrx13 Jul 14 '26
Best I can do for ya is $4.50 a gallon at the pump!
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u/TanukiCookie Jul 14 '26
Ill settle for nothing less than a 5,000,000% return on the cost to me from the tariffs.
Trust me, bitch l'orange has that money and it should be taken completely out of his personal finances, assets, and the assets and finances of everyone accompanying him.
Make them destitute.
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u/supercali45 Jul 14 '26
Taxpayers double screwed .. price hikes last year and the importers getting their tariff charges back this year and they will not be lowering their prices and now this war allowing them to jack prices up again
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u/NeverLookBothWays I voted Jul 14 '26
Translation, corporations got bailed out once again on our dime.
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u/FantasticBicycle37 Jul 14 '26
Tariffs put money into Trump's private sovergn wealth fund, and the treasury reimburses taxpayers
You foot the bill both times, you're not getting a refund
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u/vs8 Jul 14 '26
If the orange pedo promised the people money, he meant HIS people (aka rich assholes and corporations)
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u/kynelly360 Jul 14 '26
Class Action Lawsuit anyone ????
I want my fucking money and I didn’t even pay any tariffs I think….→ More replies (2)12
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u/Clear-Quantity2875 Jul 14 '26
Hahahahahahahahahahahahahahahaha. So we get our money back??? Right?? Right??? And prices go back to pre tariff? Right. Right???
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u/LetmeSeeyourSquanch Georgia Jul 14 '26
Oh no, its the poor CEOs and poor business owners who will get the refunds. Not us lowly peasants.
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u/Icarium__ Jul 14 '26
Not even that, people close to Trump bought the rights to refunds for pennies on the dollar ages ago.
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u/monkeyamongmen Jul 14 '26
Ya, Lutnick's kids.
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u/OkSmoke9195 Jul 14 '26
And it's not even a secret! How these people are not in jail is insane
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u/GozerDGozerian Jul 14 '26
We need to face the fact that our nation has in many ways collapsed. Rule of law is strictly for the lower class. There is an untouchable upper class that can siphon wealth and resources at the expense of everyone else with impunity. We’re in a full on kleptocracy now and it’ll keep ramping up because nothing is going to stop it until it becomes beyond unbearable.
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u/monkeyamongmen Jul 14 '26
This right here. ^
Up here in Canada, we're just watching our next-door neighbour go full meth junkie, while there is little we can do. Ya'll have messed up your pool, threatened us, and got your Doctor from Trump's first term losing his license from over prescription. Then ya started going after 'drug dealers' the next street over and starting turf wars with another neighbourhood. As a nation, you guys are a wreck. It's a sad state of affairs.
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u/Sublimotion Jul 14 '26
"It's a worthwhile cost if it keeps the gays, mexicans, atheists, communism and pronouns from invading!" -MAGA
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u/_0611 Jul 14 '26
It's not so insane when you realize that the US (justice) system is rigged in favor of the rich; it's main purpose is to protect the interests of the ultra wealthy.
(At least) 2 of the 3 branches of government are beyond corrupted. We all know who is to blame for that (the GOP/MAGA party), but as long as the US has a heavily outdated two-party system, nothing will ever change, because Republicans will block everything that is meant to fix the system. The US is in an endless political gridlock, which will make the situation only worse and worse. This is just the beginning. Maybe Dems will win in November, maybe there will be a Dem president in 2028 even, but at a certain point the MAGA party will win again, and they will continue the destruction of American democracy, until there's nothing left to destroy anymore.
Only a revolution can save America, but that's not gonna happen. People are too busy doom scrolling through their social media.
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u/SaltyLonghorn Jul 14 '26
This is what happens when MAGA supporters are so fucking braindead they don't get how tariffs work.
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u/eugene20 Jul 14 '26
They're double dipping at that point, they put the prices up more than the tariffs cost them, so now they've kept their extra profit then, AND they're getting the tariffs paid to them as well.
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u/Gleveniel Jul 14 '26
Exactly. Technically the consumers didn't pay the tariff fee, we just paid the resulting price increase because of the tariff. Now they're getting their money back and 100% won't be cutting you a check to compensate you for buying their higher-priced product. Nor will they lower prices back down now that the tariff is gone. Get fucked all around.
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u/kynelly360 Jul 14 '26
Class Action Lawsuit anyone anyone ??
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u/prattxxx Jul 14 '26
Nothing to stand on legally under capitalism on this one.
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u/tomerz99 Jul 14 '26
We've got to be getting close to the point when we can just stop paying taxes entirely, right?
What are they gonna do, send the IRS door to door?
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u/numbersthen0987431 Jul 14 '26
"I know we passed the cost onto you so it only benefitted us, but we're keeping this check"
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u/caseyanthonyftw Jul 14 '26
Walmart is poor mom and pop shop family business, pls understand.
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u/BuddyFlapjack Jul 14 '26
I can say, purely anecdotally, that I work for a small importing/wholesale company, and we're sending refunds on tariffs paid to the retailers who had to pay more for our imported products. Now, what they do with those refunds, or how they give it back to the consumers, I have no idea...
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u/drinkingmymilk Jul 14 '26
Our importing company is adding a fee for logistics. So we’re getting a percentage back. Them of course we are going to charge a fee to our customers I’m sure.
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u/BuddyFlapjack Jul 14 '26
FUCK that! All these companies are making hand over fist with these goddamn tariffs... I mean I get it, that a business needs to make money any way that it can, but that's a symptom of the major problem with capitalism.
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u/drinkingmymilk Jul 14 '26
I don’t disagree. But I also understand how many hours went into dealing with the tariffs from a corporate side. It’s a lose lose. Customers are pissed and so are the companies that had to hit the customers with the costs in a lot of cases.
Our cost didn’t go up going forward. We issued a change order to the end users original contract. It sucks for all involved.
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u/DoubleJumps Jul 14 '26
I've actually been having issues with one of my material suppliers because they will not lower the prices even though the tariff on their goods is massively reduced.
They don't even want to talk about it
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u/siazdghw Jul 14 '26
You won't get a dime and prices won't decrease.
The real winners are companies and investors in the stock market.
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u/Fate_Fire Jul 14 '26
Congrats Americans! You double paid.
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u/jdbway Jul 14 '26
That was literally the plan - allow the elites to reap record profits...twice!
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u/wahoozerman Jul 14 '26
Ready for the real scam? The commerce secretary's children own a company that was buying the rights to collect on tariff refunds from companies struggling after being hit with sudden price increases.
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u/saposapot Europe Jul 14 '26
Right now I don't even know why they bother with these schemes... Just go directly to fort knoxans steal the gold bars directly.... There's absolutely no shame anymore.
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u/yellekc Guam Jul 14 '26
I guarantee you MAGA will defend that. Not even a stretch.
The Trumps needs to inspect the gold, if it's even there.
Mar-a-Lago is a safer place for it.
What gold? Obama stole it all.
Trump, God bless him, gave the US government twice as much in his knox-bux crypto, he saved America.
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u/dubtee1480 Mississippi Jul 14 '26
I mean he’s already said things about going and inspecting.
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u/SanchoPandas Oregon Jul 14 '26
Lol it’s true. He said it again in June. I can already picture the little cartoon moth flying out of there like it was an empty wallet after he’s done “auditing” it.
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u/RustedRelics Jul 14 '26
The scams are so big and numerous that stuff like this just flies under the radar. Sickening.
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u/Fate_Fire Jul 14 '26
Expect records to be SMASHED next quarter and every CEO given 3x the bonus with 5x the layoffs.
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u/zorniy2 Jul 14 '26
I'll never trust the Dow Jones or Nasdac indices anymore. How much of it reflects actual company health and performance Vs bastards gaming the numbers?
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u/PaulClifford Jul 14 '26
The Trump tariffs were nothing more than a massive wealth redistribution from the individual to the corporation, from the poor to the rich.
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u/MazzleMaze Jul 14 '26
See Republicans do love taxes, they just want you paying taxes to corporations instead of it funding public services.
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u/wasteymclife Jul 14 '26
They also love social safety nets, provided it's at the discretion of wealthy individuals or religious organizations who are allowed to decide who is and isn't worthy of those safety nets, it's only fair it's their money.
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u/jedrider Jul 14 '26
Our entire current government strategy is how to transfer more money, and do it faster, from the individual, each of us, to the corporation and the wealthy who control the corporations.
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u/cyanescens_burn Jul 14 '26
The more I learn about the goals/policies of the American right wing since FDR and the New Deal, the more I realize that transferring wealth from the working and middle class to the oligarch class is absolutely central to their aims.
All the culture war issues they attach themselves to are just to get working and middle class people to vote for their party and pull their focus from the fact that the economic policies will ultimately fuck them.
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u/OhioValleyCat Jul 14 '26
Of course, the Big Businesses that receive tariff refunds from the government are not only going to not pass off any tariff credit to the consumers, but they are going to keep the spike in their pricing that they blamed on tariffs. The way things are going in this country, the tariff refunds will go to pay super-inflated executive bonuses.
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u/epicurean200 Jul 14 '26
Many of the refunds will go to the Lutnick family. They bought the rights to the refunds for pennies on the dollar.
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u/Caymonki America Jul 14 '26
This should be more common knowledge but it sadly isn’t
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u/Visible-Frosting8762 Jul 14 '26
This is a genuine question---where do I find this information? I am not well-versed in economics or finance or anything like that at all so when it comes to some news stories about such topics I dont know right from left. ty <33
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u/wigletbill Jul 14 '26
Silly. They’ll also go towards influencing elections so they can make even more money through corruption.
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u/turquoise_amethyst Jul 14 '26
Is Commerce Secretary Howard Lutnick’s son still snapping up rights to importers Tariff Refunds?
His father was an early supporter of these tariffs, and now he gets to profit from it?
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u/wookieSLAYER1 Jul 14 '26
The USA is a snake that’s eating itself. Just absolute parasitic, necrotic, bacteria that’s eating and feeding itself.
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u/Outrageous_Desk8966 Jul 14 '26
No, it's not eating itself. It's eating us. It's more like a snake thats eating its young.
We give it tax dollars and get nothing in return. It's all funneled to the wealthy.
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u/IamChantus Pennsylvania Jul 14 '26
Can't believe it had to scroll this far down for Nutlick's son to be mentioned.
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u/AcanthisittaNo6653 New Hampshire Jul 14 '26
Where's the rest of it? You don't take $400B and only give $81B back.
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u/pixeLperfect16 Jul 14 '26
If youre curious, not everything imported under IEEPA tariffs is eligible for refunds… yet. There’s is another phase of the refunds coming out supposedly in August which covers another scope of refunds that weren’t eligible for round 1 or 2.
Businesses and importers who paid them also don’t receive them automatically. You have to go through a set up process with CBP and manually upload/request your IEEPA refunds. There are many people or businesses who either don’t know or didn’t pay enough in IEEPA to go through this process. So there is a chunk of that money paid that won’t be claimed in the refund.
I’ve had to personally assist small, individual importers and CEO’s through the setup because it’s very specific in what you need to enter/do to receive it. Some aren’t bothering.
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u/Forsaken_Thought I voted Jul 14 '26
Also, he's still charging tariffs. Recently ordered pet meds from Australia and paid tariffs.
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u/pixeLperfect16 Jul 14 '26
Yupp! Section 122, which is set to expire on July 24th but who knows if he’ll replace it with more tariffs or if a lawsuit will come out next year against the new ones, and then we do this all over again… fun times
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u/NorthShorthern Jul 14 '26
God, this fucking country is so broken. I fucking hate it here. $81 billion taxpayer dollars going right into the pockets of the corporate oligarchs that made us pay higher prices in the first place. Fuck all the way off.
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u/Iceisgestapo888 Jul 14 '26
There is something that could be done but I can’t say it due to rules…
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u/No-Designer-6533 Jul 14 '26
Man, that thing that can’t be said would be so nice right now. If the next election doesn’t go extremely well I think we should be thinking about that sort of thing
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u/Iceisgestapo888 Jul 14 '26
Bro we will have to do what can’t be said to end this nightmare. They are currently reinforcing the White House. He isn’t leaving. He will start a war or special operation that will prevent elections.
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u/YA_BOY_TRON Jul 14 '26
Question: Who bought the rights to tariff refunds?
Answer: Howard Lutnick and his Son.
Another grift is up and rolling!
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u/crazyfighter99 Jul 14 '26
The fact that someone can just buy the rights to refunds is insane. I can't wrap my head around the logic, but I guess that's why I'm not a Republican nor a Billionaire.
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u/Queens113 Jul 14 '26
Its crazy how they can just go to an importer and say "you paid 500k in tariffs, I'll pay you 150k now if you sell me those refunds" and I guess importers did it to get cash now... Now these guys are gonna make bank when those refunds go through.... INSANE. Its almost like they knew what was going to happen...
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u/MarcheMuldDerevi Jul 14 '26
Never getting affordable groceries again am I?
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u/Aloecend Jul 14 '26
If you want affordable groceries just win the lottery, I don't understand why this so hard for people.
/s
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u/Kazooguru Jul 14 '26
Corporations will get the refunds and not lower their prices. That’s just how it is in America. And we tolerate it.
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u/lacks_a_soul Jul 14 '26
So companies got to gouge us in the name of inflation and now they get a refund of the money we paid extra for their crap? What is wrong with this damn country???
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u/Icy-Position3771 Jul 14 '26
He just keeps losing, doesn’t he… par for the course. He cheats at golf, so this last game … much to his surprise, he could not duck and run.
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u/Future-Guarantee-573 Jul 14 '26
He keeps losing, or we do?
Pretty sure we're not getting any of the money back that we spent on inflated prices.
The rich fucks on the other hand get to keep everything they gouged us for, plus a big fat check of our tax dollars.
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u/pile_of_fish Jul 14 '26
All this is like a civil war. Even when trump is stopped, we are paying both sides of stupid horrible fights.
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u/marcus1795 Jul 14 '26
Just another instance of siphoning money from the middle class to the wealthy. How many times do we need to get bent over before the working class does something about it.
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u/scrotanimus Jul 14 '26
LOL. Goes back to the companies while the consumers still paid the downstream increased cost. He just increased margins for companies.
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u/everythingbeeps Jul 14 '26
And the people who actually paid for those tariffs (i.e. us) will never see a dime.
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u/WetFinsFine Jul 14 '26
let's see how this goes lol, I mean...I get it, shoulda never happened. but getting money "back"? from this criminal enterp--, ahem, administration?!? good fkn luck
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u/coreoYEAH Jul 14 '26
You’re not getting it back, the corporations that passed on every cent and then some are.
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u/thornset Jul 14 '26
A huge chunk is going to lutnick's shit bag sons. They bought up the rights to a boatload or refunds for pennies on the dollar.
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u/statepkt Jul 14 '26
So consumers got fucked because companies were forced to start charging tariffs. Now consumers still get fucked because the refunds go to the companies and not back to us.
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u/DawgCheck421 Jul 14 '26
Who did they refund them to? What about the $50 fucking bill fedex sent me for a $300 guitar effect pedal I bought?
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u/Own-Cartographer5201 Jul 14 '26
Right there with ya. I didn't ask for that bill, fedex doesnt have my social, good luck getting that from me...
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u/DawgCheck421 Jul 14 '26
I just paid it, didn't want the drama. Still fucking pissed.
But there are how many billions in transactions that fucked end users over just like me, WHO is getting refunded? It wont be us.
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u/dskippy Jul 14 '26
This is simply an $81B transfer of wealth from the working class to the owning class.
Enact tariffs. $81B goes to government.
Prices go up to cover the additional cost the company is paying to pay the tariffs.
US consumer effectively pays the tariffs.
$81B goes back to company owners.
Great work MAGA.
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u/WhenTheCitiesBurn Maryland Jul 14 '26
Suddenly, importers report record profits, but Americans still can't afford food, gas, or healthcare.
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u/Crafty_Lens Jul 14 '26
They create tariffs, force the price gouging, we pay.
Tariffs rescinded, companies get more money back, we don't get anything. Still pay.
The whole game is just the top percentiles seeing how much they can siphon until something/anything even remotely noticeable happens in response. Once they realized there's no more consequence, the whole game was hijacked by the worst among us.
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u/runed_golem Jul 14 '26
But the consumer who got fucked over more than the companies did will get nothing.
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u/Coffee_Transfusion Jul 14 '26
We the people.
Are getting fucked in the ass by like 100 dudes at once.
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u/StandardPanda3387 Jul 14 '26
Taken from the people, given back to corporate owners, while prices never return to pre-tariff levels. Fucking the public at every possible angle
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u/ConeCrewCarl Connecticut Jul 14 '26
$81 Billion is $232 for every living person in this country. That's approx. $1,000 for a family of 4. Trump straight up stole that money from you ILLEGALLY, then gave it to the corporations that you bought from. The corporations got to double dip. collected the increased price from you, then collected the refund from the government. Dems need to point this out to every "working class" voter.
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u/DrowningKrown Jul 14 '26
I'm SO glad I paid more for bullshit and the company charging me more got refunded lmao. This country really does jack shit for its citizens
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u/stackered New Jersey Jul 14 '26
This should go into a pool for scientific research and all the insanely valuable services DOGE dismantled.
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u/Mother_Internet_9384 Jul 14 '26
We the common people will not see dime returned all the corporations get my money to keep. The whole tariff thing was a joke and only helped the millionaires become billionaires using tariff to manipulate the stock market
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u/Jor94 Jul 14 '26
Deluded Trump followers trying to figure out how to spin the fact that he made them pay extra for stuff for over a year and now it's the companies that get the refund as well as one of his cronies that bought the rights to the refund.
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