Story perspectives

Trump Backs Apple, Amazon Amid Tariff Refund Controversy

4/22/2026

Summary

Story summary

U.S. President Donald Trump supports Apple and Amazon for not applying for tariff refunds, implying they would benefit.
In a CNBC interview, he said, "It’s brilliant if they don’t do that," and pledged to remember these companies.
Trump criticized the Supreme Court for ruling against his tariff powers, saying it could trigger $166 billion in refunds.
Experts noted ongoing legal challenges could complicate the refund process.

History

Historical Context

The Smoot-Hawley Tariff Act, enacted on June 17, 1930, raised tariffs on over 20,000 imported goods, aiming to protect U.S. industries during the Great Depression. This protectionist measure led to a 66% decline in international trade and retaliatory tariffs from other nations, exacerbating the economic crisis. Trump's recent comments on corporate tariffs echo these historical protectionist sentiments, highlighting ongoing debates about trade policy.

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Story summary

U.S. President Donald Trump supports Apple and Amazon for not applying for tariff refunds, implying they would benefit.
In a CNBC interview, he said, "It’s brilliant if they don’t do that," and pledged to remember these companies.
Trump criticized the Supreme Court for ruling against his tariff powers, saying it could trigger $166 billion in refunds.
Experts noted ongoing legal challenges could complicate the refund process.

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