Royal Philips and Pandora are among the first major multinationals to move on the new U.S. tariff refund program, signaling a tangible shift in Washington’s trade policy.
The Dutch healthcare and jewelry groups have confirmed they will apply for rebates on duties previously levied on their imports, capitalizing on a mechanism that the Trump administration has only just begun to operationalize.
S. trade barriers. Both companies reported margin pressure linked to the duties, making the rebate process a direct route to recovering some of that lost profitability.
The move marks a departure from the earlier phase of the trade dispute, where companies were forced to absorb the costs of levies or pass them on to consumers.
By initiating disbursements, the U.S. government is effectively acknowledging the financial strain that the tariffs placed on importers, particularly those with significant supply chains tied to the American market.
For Philips and Pandora, the refunds come after a first-quarter earnings season that highlighted the drag from U.S. trade barriers.
Both companies reported margin pressure linked to the duties, making the rebate process a direct route to recovering some of that lost profitability.