Nintendo2026-09-11 04:10:45Nintendo says tariff refunds helped fund a customer sale as U.S. consumer lawsuit continuesNintendo of America said its upcoming Customer Appreciation Sale was made possible in part by tariff-related refunds, a disclosure that has drawn renewed criticism because the company is already fighting a U.S. consumer lawsuit over the same money. The sale runs from 9 p.m. PT on Sept. 12 to 8:59 p.m. PT on Sept. 26 and includes dozens of Switch digital games and bundles at 30% off, along with discounts on some physical games, DLC, accessories, amiibo and apparel across Nintendo eShop, Nintendo’s official store and select retail partners. The company had previously disclosed in its Aug. 6 FY27 first-quarter results that it recognized about $300 million in refunds tied to tariffs imposed under the International Emergency Economic Powers Act, or IEEPA, and booked the amount as a reduction in cost of sales. Nintendo said those tariffs were borne mainly by the company rather than passed on through consumer pricing. The filing helped lift quarterly operating profit to JPY 142.5 billion, up 150.5% year over year, while gross margin rose by 22 percentage points. That position now sits alongside a class action filed in April 2026, Hoffert et al v. Nintendo, in which consumers argue the company raised prices citing tariffs and then benefited again when the government returned the money. Nintendo moved to dismiss the case in July, saying buyers received exactly what they paid for and that completed transactions do not reopen simply because tariff law later changed.1000
Sony2026-09-03 16:28:27Sony Seeks Dismissal of PS5 Buyers’ $508 Million Tariff Refund LawsuitSony has asked a federal judge to throw out a class action that seeks to give PlayStation 5 buyers a share of the $508 million the company expects to recover in tariff refunds. In a motion filed Monday and first reported by Game File, Sony argued that consumers who voluntarily bought a PS5 at market price did not suffer a legally recognizable injury. The company also challenged the claim that tariffs caused its August 2025 price increase, calling that theory speculative and illogical and pointing instead to inflation, currency swings, component costs, logistics, competition, and demand. Sony further argued that its March price increase, which came five weeks after the tariffs fell, undercuts the idea that tariffs drove the earlier hike. Similar cases are also unfolding against Microsoft and Nintendo, while Panic, maker of the Playdate handheld, is described as the only gaming hardware company to have refunded the 19% tariff it charged customers. No judge has yet ruled on any of the pending motions.900
US Treasury2026-08-13 00:27:53US July Budget Deficit Hits Record $432B as Interest Costs Top $1TThe U.S. Treasury reported on Wednesday that the federal budget deficit reached $432 billion in July, the largest amount on record for that month. The shortfall was driven mainly by a sharp increase in federal Medicare spending and by rising interest costs on public debt. Interest payments on the federal debt have now exceeded $1 trillion for the current fiscal year. Over the first ten months of fiscal 2026, the cumulative deficit totaled $1.8 trillion. On a calendar-adjusted basis, the deficit was 5% larger than in the same period of fiscal 2025, a sign that government borrowing needs continue to climb. Federal spending has been expanding at a faster clip while revenue has declined, leaving the government's fiscal position under strain. Tariff refunds are making the situation worse. The Supreme Court ruled that most of President Trump's tariff increases were invalid, and the refunds tied to that ruling are still being processed, weighing on revenue and adding to deficit pressure.1440
Trump adminis2026-08-04 21:33:42Trump administration has paid about $100 billion in tariff refundsThe Trump administration has paid about $100 billion in tariff refunds since the U.S. Supreme Court ruled that its use of emergency powers to impose tariffs on trading partners was invalid, according to Jin10, as cited by ChainCatcher. U.S. customs officials told a judge at the U.S. Court of International Trade on Tuesday that the refunded amount accounts for 60% of the $165 billion collected under the president’s "Liberation Day" tariffs. The figures outline the scale of repayments now being made after the court decision.1850
