Costco adds Biden Commerce Sec. Gina Raimondo to board on heels of Trump tariff lawsuit

56 minutes ago 2

US Commerce Secretary Gina Raimondo speaks connected the archetypal time of the Democratic National Convention (DNC) astatine the United Center successful Chicago, Illinois, connected August 19, 2024. 

Mandel Ngan | AFP | Getty Images

Read much CNBC authorities coverage

"We are precise pleased to nominate Secretary Raimondo for predetermination to our Board," Costco Chairman Tony James said successful a statement.

"Her immense acquisition successful planetary business, authorities and planetary information astatine the highest level volition adhd an important magnitude to our existent expertise," James said. "We look guardant to her contributions."

Raimondo antecedently was Rhode Island's treasurer. Before that, she worked successful task capital.

The Supreme Court past period heard arguments by the Trump administration, which is seeking to reverse little tribunal rulings that the wide-ranging tariffs imposed by the president this twelvemonth are illegal.

Costco's suit asks a national tribunal to bid that the wealth it has paid for those tariffs to day should beryllium returned now, without waiting for the Supreme Court to regularisation connected their eventual legality.

The retailer said that without specified an order, determination is simply a hazard it volition not beryllium capable to get backmost that wealth adjacent if the precocious tribunal rules Trump did not person the powerfulness to enforce the tariffs.

This is processing news. Check backmost for updates.

Read Entire Article