Nike sued over alleged failure to refund tariff costs to consumers

Nike is facing a class action lawsuit accusing the company of failing to refund tariff-related costs it passed on to consumers through higher prices. The proposed lawsuit argues that Nike should not be allowed to keep "significant" refunds it may receive after the U.S. Supreme Court ruled in February that the president lacked authority under the International Emergency Economic Powers Act (IEEPA) to impose certain tariffs. Nike has stated it paid roughly $1 billion in tariffs on imported goods as a result of those actions. The plaintiffs allege the company raised prices on some footwear by $5 to $10 and on some apparel by $2 to $10 to offset those costs. The complaint, filed in federal court in Portland, Oregon, states that "Nike has made no legally binding commitment to return tariff-related overcharges to the consumers who actually paid them." The lawsuit contends that Nike stands to recover the same tariff payments twice—once from consumers through higher prices and again from the federal government through tariff refunds. This legal action is part of a broader trend, with more than 2,000 companies filing suits in the U.S. Court of International Trade seeking to recover tariffs paid on imported goods. Nike declined to comment on the matter.

(Source：Fox Business)