NEW YORK CITY, New York (WABC) — New York Governor Kathy Hochul sent a letter to the U.S. Department of the Treasury this week requesting that $13.5 billion in tariff payments be refunded to New Yorkers.
Hochul’s letter follows a Supreme Court decision ruling that the Trump administration’s tariffs imposed under the International Emergency Economic Powers Act (IEEPA) are unlawful.
“These unlawful taxes wrought havoc on the American economy and increased costs for hard-working families,” Hochul wrote.
The average New York household has faced an estimated $1,751 in added costs due to tariffs since they were enacted last year, for a total estimated statewide impact of $13.5 billion, according to estimates from the Yale Budget Lab.
Hochul said the federal government should “do the right thing” and give back “unlawfully seized billions of dollars.”
“Consumers have paid dramatically more for everyday goods. Small businesses have faced increased supply and equipment costs,” Hochul wrote.
Hochul also addressed New York’s farming industry, as it has taken a hit. She wrote that farmers are reporting “an added layer of uncertainty that makes planning and future investment challenging.”
80% of agrochemical imports and 70% of farm machinery imports come from other countries. These products face tariffs of over 10% or more. Some farmers have indicated their businesses face up to $20,000 annually, as they face higher expenses for fertilizer, equipment, and a 7% fall in milk exports.
At the end of her letter, Hochul said millions of New Yorkers are owed a refund for the consequences of Trump’s “reckless and illegal tariff policy.”
“Compensation is owed to the people of New York, and New Yorkers look forward to receiving our payout in full,” Hochul wrote.
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