From jewelers to health tech, CEOs want tariff refunds as earnings take a hit

In this article

Companies around the world are lining up for reimbursement, as the impact of U.S. tariffs is laid bare during the first-quarter earnings season.

Philips

and Pandora on Wednesday announced their intentions to apply for tariff rebates in the wake of President Donald Trump’s “liberation day” blitz in April 2025.

After the Supreme Court ruled Trump’s sweeping duties illegal in February, the Trump administration launched a portal for processing refunds that could put the U.S. on the hook for an estimated $175 billion in redress.