FTC Urged to Probe Companies Not Sharing Tariff Refunds With Consumers
Whether consumers should share in the $166 billion of refunds soon became a point of contention.
Seven Senate Democrats have urged the Federal Trade Commission (FTC) to investigate large corporations that received billions of dollars in tariff refunds but did not share them with consumers. According to the letter sent on November 11, large corporations that received $166 billion in refund payments from the U.S. Court of International Trade allegedly violated federal law.
The senators highlight that while some companies pledged to reimburse their customers, the government sent zero dollars directly to consumers. The FTC Act empowers the commission to prevent unfair or deceptive acts or practices in commerce. The senators argue that corporations misusing refunds to increase consumer prices may violate the FTC Act.
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