Wilbur Ross Was Trump’s First-Term Tariff Hawk. Now He Says Refunds Give Importers “an Extra Profit”

You’re paying the interest on Trump’s $166 billion tariff refund

Every controller knows the sentence that ends careers: “We booked that as revenue.” For a year, Washington booked tariff collections as revenue. Then the Supreme Court ruled 6-3 in Learning Resources v. Trump that the emergency law behind tariffs never authorized them. Now the money is going back out the door. The scale is hard […]

Wilbur Ross was Trump's first-term tariff hawk. Now he says refunds give importers "an extra profit" and pay them "more than the money" they laid out

The former Commerce secretary says importers who passed tariff costs on to customers are now being paid back for money they didn't lose.

Wilbur Ross was Trump’s first-term tariff hawk. Now he says refunds give importers “an extra profit”

When Wilbur Ross ran the Commerce Department in President Donald Trump’s first term, tariffs had one job: shrink the trade deficit. Seven years later, he said the president is using them for something else, and that the refunds from the ones the Supreme Court struck down are going to the wrong people. “It’s a whole […]

Wilbur Ross was Trump’s first-term tariff hawk. Now he says refunds give importers ‘an extra profit’ and pay them ‘more than the money’ they laid out

When Wilbur Ross ran the Commerce Department in President Donald Trump’s first term, tariffs had one job: shrink the trade deficit. Seven years later, he said the president is using them for something else, and that the refunds from the ones the Supreme Court struck down are going to the wrong…