U.S. Senator Tammy Baldwin joined seven other colleagues in pressing Federal Trade Commission (FTC) Chairman Andrew Ferguson to investigate major corporations pocketing government tariff refunds
U.S. Senator Tammy Baldwin (D-WI) joined Senator Elizabeth Warren (D-MA) and six other colleagues in pressing Federal Trade Commission (FTC) Chairman Andrew Ferguson to investigate major corporations pocketing government tariff refunds. Following a Supreme Court ruling striking down President Trump’s April 2025 across-the-board tariffs under the International Emergency Economic Powers Act, the federal government has issued over $100 billion in refunds to importers and corporations. However, despite raising prices on consumers to offset the initial tariffs, top retailers have not passed these refunds back to customers.
In inquiries sent to major corporations including Walmart, Nike, Apple, Target, and Energizer, lawmakers found that none committed to providing direct restitution to impacted consumers. While companies cited general domestic investments or holiday promotions, lawmakers characterized the retention of these funds as a massive shift of financial burden onto middle-class families. The senators warned that keeping these windfalls without reimbursing consumers may constitute unfair or deceptive practices or unfair methods of competition under the FTC Act, while also granting large firms an unfair competitive edge.
The call for regulatory action comes amidst broader economic pressures on working families. A recent Joint Economic Committee report highlighted that ongoing trade policies, conflict in Iran, and broader economic instability are costing Wisconsin families more than $4,500 annually for essential goods such as housing, gas, and groceries. With additional tariffs under Section 122, Section 338, and Section 301 facing ongoing legal challenges, lawmakers urged the FTC to establish a swift precedent to prevent corporations from repeatedly retaining refunded tariff revenue at the expense of American consumers.
Todd Coppernoll oversees local news for WRCO and WRCE radio in Richland Center. Having served Richland Center as Mayor for three terms, Todd brings a unique perspective, and a familiar voice to the news. The focus is local, and so is the reporter.
Adam Hess has been involved in radio broadcasting since 1990, with many of those years spent on the air at WRCO FM in Richland Center. Currently, Adam hosts the Weekend Wake-up and Prime Mover Saturdays on WRCO FM, jumps in and helps out with news duties, handles Social Media duties for WRCO and WRCE, and is the Director of Technology at a Southwest Wisconsin School District. Reach him at [email protected].
