Colorado-based shoemaker Crocs, Inc. slapped the Trump administration with a $54 million lawsuit, claiming the president overstepped his authority with emergency tariffs that have cost the company hundreds of millions over the last two consecutive quarters.
The footwear giant filed the suit Friday in the U.S. Court of International Trade in New York City, naming U.S. Customs and Border Protection, the U.S. Department of Treasury, the U.S. Department of Homeland Security, and the Office of the U.S. Trade Representative, the Denver Business Journal reported.
Trump administration officials, including Homeland Security Secretary Kristi Noem, Treasury Secretary Scott Bessent, and Commerce Secretary Howard Lutnick, were also named in the action seeking $54 million in tariff refunds.
Why only sue for $54 million? That seems puzzling. Were their losses only partly due to tariffs?
They are suing for the cost of the tariffs they paid + interest.
That’s not hundreds of millions of dollars, which is their claimed losses.
They claim they lost hundreds of millions due to the increase in cost of the crocs but the tarrif + interest is a tangible number. I imagine this is tactical.
I assume that’s direct tariff costs on them. The extra might be the increased costs of materials, etc. Just guessing though