In March, shortly after the Supreme Court struck down President Donald Trump's International Emergency Economic Powers Act (IEEPA) tariffs and paved the way for $100 billion in import taxes being redistributed back to American importers, U.S. Trade Representative Jamieson Greer shared his idea of what these companies should do with this influx of cash.
"If I were these companies, and somehow they get this windfall, the most important thing and the smartest thing they should do is give it as bonuses to their workers," Greer told CNBC.
It appears some companies have heeded Greer's suggestion. As businesses receive more than $100 billion the U.S. Treasury has doled out in refunds since May, many are vowing to lower prices or pay down debts. A handful, however, are giving the cash back to their employees.
In its second quarter earnings report last month, houseware brand Williams Sonoma said it would allocate $10 million for one-time payments to 401(k) accounts to eligible employees "in recognition of their efforts navigating the IEEPA tariffs."
"We're so appreciative to have the money back and to be able to reward our employees with part of it," President and CEO Laura Alber said on an earnings call. "They have done such an amazing job."
#Companies #employees
"If I were these companies, and somehow they get this windfall, the most important thing and the smartest thing they should do is give it as bonuses to their workers," Greer told CNBC.
It appears some companies have heeded Greer's suggestion. As businesses receive more than $100 billion the U.S. Treasury has doled out in refunds since May, many are vowing to lower prices or pay down debts. A handful, however, are giving the cash back to their employees.
In its second quarter earnings report last month, houseware brand Williams Sonoma said it would allocate $10 million for one-time payments to 401(k) accounts to eligible employees "in recognition of their efforts navigating the IEEPA tariffs."
"We're so appreciative to have the money back and to be able to reward our employees with part of it," President and CEO Laura Alber said on an earnings call. "They have done such an amazing job."
#Companies #employees
3 hours ago
