U.S. companies should give Trump tariff refunds to workers as bonuses or raises: Greer
CNBC
The United States government could end up paying $165 billion of more in refunds for Trump's IEEPA tariffs that the Supreme Court ruled were illegal.
American companies that end up getting up to $165 billion or so in refunds for President Donald Trump's newly voided reciprocal tariffs should give that money to their workers as bonuses or raises, U.S. Trade Representative Jamieson Greer said Friday.
Greer's suggestion, made in an interview with CNBC's "Squawk Box," comes as hundreds of American importers, including Costco and FedEx, have filed lawsuits seeking refunds for the money they paid in tariffs that were ruled illegal by the Supreme Court in a 6-3 vote on Feb. 20.
A U.S. Customs and Border Protection official told a Court of International Trade judge in a filing on Thursday that development of an online system that will process refund claim requests is 70% completed.
The judge is not forcing the board to let Ohio Rep. Joyce Beatty, an ex officio member through her position in Congress, vote at Monday's session.
Federal Reserve Chair Jerome Powell has said he is being investigated ostensibly for comments he made about the pricey renovations of the Fed's headquarters.
The United States government could end up paying $165 billion of more in refunds for Trump's IEEPA tariffs that the Supreme Court ruled were illegal.
Iran's threat to the Strait of Hormuz can't be fixed by releasing oil from strategic petroleum reserves.
The House Oversight Committee has called in Tova Noel, who was working at the time of Jeffrey Epstein's death, for a deposition later this month.
Oil prices have skyrocketed in the days since President Donald Trump's war on Iran began.
Russian leaders told President Trump they aren't sharing intelligence with Iran as it fights the U.S. and Israel, Special Envoy Steve Witkoff said this week.
It comes at a time when the Caribbean island is grappling with a worsening economic crisis.
Analysts say any attempt to attack or seize Iran’s strategic oil hub is likely to be fraught with risk.
The Strait of Hormuz, the world's most critical chokepoint for oil shipments, has been effectively closed since the U.S. and Israel began the war on Iran.
His comments to CNBC come as the U.S. and Israeli-led war appears poised to enter its third week.
The U.S. Central Command said that the loss was "not due to hostile or enemy fire."
The State Department said this week that 36,000 Americans had returned to the U.S. after the start of the war with Iran.