Hochul Pressures White House to Issue Tariff Reimbursements to New York Businesses

Gov. Kathy Hochul spent much of her Thursday morning railing against President Donald Trump’s tariffs, mainly trying to get the federal government to reimburse small businesses and residents of New York.

Hochul launched the tariff recoup crusade after the U.S. Supreme Court struck down the Trump administration’s tax on imports last week, citing the White House’s legal team’s own admission that refunds for the subsequent increase in living expenses would be issued.

“I read that in the argument of the U.S. Department of Justice’s lawyers just last night, so they have said they will give refunds,” Hochul said at a press conference Thursday. “New York families on average have paid $1,750 more on everything from groceries to Christmas presents. … [Residents and businesses in New York] already pay a lot in federal and state taxes, and now to have this extra tariff thrown on them and their customers is just a kick in the teeth.”

The $1,750 figure cited by Hochul comes from data provided by the Budget Lab at Yale, which estimated that figure is the amount people across the state have paid since the tariffs were instituted on April 1, 2025, known to the Trump administration as “Liberation Day.”

Hochul is urging U.S. Department of the Treasury Secretary Scott Bessent to get to work on a framework for providing businesses and households with $13.5 billion.

The Treasury Department did not immediately respond to a request for comment.

Victor Owen Schwartz, the founder of VOS Selections, which imports wine and spirits from 16 different countries, hosted Hochul’s press conference at his offices in Midtown and spoke to the impact the tariff back-and-forth is having on his retail tenant clients.

“If you’re an administration that is trying to help businesses, then why shoot us in the foot?” Schwartz said. “The tariffs have been really painful. I see a lot of my colleagues in retail and in restaurants as well as other importers and distributors who have taken a big hit.”

Mark Hallum can be reached at mhallum@commercialobserver.com.