LEXINGTON, Ky (LEX News) — American companies are beginning to receive refunds from the U.S. government after the Supreme Court struck down a significant portion of the Trump administration's tariffs earlier this year — but questions remain about whether everyday consumers will see any of that money reflected in lower prices.
Business experts report that U.S. companies paid about $160 billion in tariffs before the court's ruling. Various studies show tariffs can cause financial pain for shoppers, with the estimated household cost totaling about $1,100 each year.
Senator Rand Paul, a vocal critic of President Trump's tariffs, addressed the issue of affordability with workers at Galls in Lexington. Paul has often called tariffs a tax on businesses and, ultimately, a tax on consumers.
LEX News asked Paul whether he believes those refunds should be passed on to regular shoppers.
"When the tariffs were removed, Walmart got that money back and it will ultimately be reflected in prices. When the tariffs are on, the prices at Walmart are higher. When the tariffs are removed, the prices come down. They may not always notice it because it's a little bit on each item. But because of international trade, most people say the average shopper at Walmart saves about $1,500 a year because we allow international trade."
While the Supreme Court struck down some tariffs, many others remain in place, and new ones have since been added.
