Problem. Most companies are inherently greedy. They won't hire new people with those refunds unless they open new stores, and even then they will keep it bare bones.
They will not lower prices, they will just leave them were they are. Increasing their own profit. R&D isn't necessary for the majority of the companies affected by tariffs.
The people wouldn't spend less on the same products, thus not helping them.
The only products that may decrease in price is local groceries. Even then. Thats a maybe depending on demand.