US Supreme Court said no to Trump’s tariffs, and now German companies are getting refunds in hundreds of millions
BERLIN, Aug 21 — German companies have recouped hundreds of millions of euros in overpaid tariffs following Februa...
German companies have been refunded hundreds of millions of euros in overpaid tariffs following a landmark US Supreme Court ruling in February, according to German business magazine Wirtschaftswoche. The total amount refunded to listed German companies is approximately €790 million (RM3.73 billion), with logistics giant DHL receiving €416 million (RM1.96 billion) alone.
The company has announced plans to pass the refunded funds onto its customers. Medical technology firm Siemens Healthineers received over €200 million (RM944 million), as stated by its chief financial officer, Jochen Schmitz, in late July. Other companies anticipate significant refunds later this year. In total, the US government returned around US$5.3 billion (RM21.4 billion) in tariffs during the same period as the previous year.
The US Supreme Court struck down tariffs imposed under an emergency law, citing Donald Trump's overreach in authority when imposing the tariffs on numerous trading partners. Trump has subsequently imposed new tariffs under different legislation.
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