Costco Wholesale said Thursday that it has nominated Gina Raimondo, who served as commerce secretary under President Joe Biden, to its board of directors.<\/p>\n\n\n\n
Raimondo led the Commerce Department, which plays a major role in overseeing U.S. trade policy, for the entirety of Biden\u2019s term as president. From 2015 to 2021 she served as the Democratic governor of Rhode Island.<\/p>\n\n\n\n
The announcement from Costco comes just days after the retail giant filed a lawsuit seeking a refund of tariffs it has paid this year under President Donald Trump\u2019s country-specific tariff program. The company also asked a trade court to prohibit the Trump administration from collecting any more of these customs duties.<\/p>\n\n\n\n
The tariffs were imposed by Trump after he invoked emergency powers to bypass Congress. The administration claimed the president\u2019s authority stemmed from the International Emergency Economic Powers Act, or IEEPA.<\/p>\n\n\n\n
Trump\u2019s use of this IEEPA authority to impose the tariffs is currently under review by the Supreme Court.<\/p>\n\n\n\n
Hamilton James, chairman of Costco\u2019s board of directors, said in a statement that the company is \u201cvery pleased to nominate Secretary Raimondo for election to our board. Her vast experience in global business, politics and international security at the highest level will add an important dimension to our current expertise.\u201d<\/p>\n\n\n\n
Raimondo\u2019s nomination to Costco\u2019s board will be voted on during the company\u2019s Jan. 15 shareholder meeting. New board nominations typically pass by a wide margin.<\/p>\n\n\n\n
Costco\u2019s lawsuit has since been merged with those of other firms suing over the same tariffs, including a number of auto suppliers and steelmakers.<\/p>\n\n\n\n
In a separate securities filing, Costco said it had been reviewing potential candidates to add to its board as part of a \u201crefreshment\u201d process. It said Raimondo came to its attention \u201cthrough Hamilton James, and is well known by other current directors.\u201d<\/p>\n\n\n\n
At a Bloomberg conference in mid-November, Raimondo warned that Trump\u2019s tariffs will likely outlive his administration.<\/p>\n\n\n\n
\u201cTariffs, once they\u2019re put on, are hard to take off,\u201d she said.<\/p>\n\n\n\n
The former commerce chief also said spent a good deal of time while serving in the prior administration trying to convince Biden to lower tariffs.<\/p>\n\n\n\n
But that was a difficult task, she said, because \u201cno one wants to be the American president accused of letting down the American worker.\u201d<\/p>\n\n\n\n
The former secretary also criticized Trump\u2019s tariff agenda directly.<\/p>\n\n\n\n
\u201cSome amount of tariffs, most companies can live with. But not, you know, 40%-50%. And, by the way, not changing every other month,\u201d she said at the Bloomberg conference.<\/p>\n\n\n\n
In April, Raimondo said she was considering a potential 2028 presidential run.<\/p>\n\n\n\n
The White House did not immediately respond to a request for comment on the nomination.<\/p>\n\n\n\n