German companies receive millions in US tariff refunds

Following a US Supreme Court ruling that declared certain tariffs imposed under a 1977 emergency law unlawful, the US government is issuing massive refunds. Estimates suggest the US may need to repay approximately $175 billion (roughly €150 billion) in total.

German listed companies have already received approximately €790 million in refunds. DHL is the largest recipient, having received €416 million, which the logistics group intends to pass on to its customers. Siemens Healthineers has received around €200 million, while Puma has reported approximately €49 million in refunds, with expectations of up to €300 million in total.

Other beneficiaries include Sartorius (€26 million), Dräger (€22 million), SMA Solar (€22 million), Knorr-Bremse (€20 million), and Zeiss (€21 million). The Supreme Court found that the Trump administration had exceeded its authority when implementing these broad tariffs against numerous trading partners. While the administration has since implemented new tariffs under different legal frameworks, the court's decision necessitates the return of previously collected duties.