economy
From Jewelers to Health Tech, CEOs Want Tariff Refunds as Earnings Take a Hit
Philips and Pandora on Wednesday announced their intentions to apply for tariff rebates in the aftermath of President Trump's "liberation day" blitz.
TL;DR
- Companies are seeking reimbursement for U.S. tariffs after a Supreme Court ruling declared them illegal.
- Philips and Pandora have announced intentions to apply for tariff rebates.
- Tariffs have been flagged as a negative factor impacting first-quarter earnings for various companies.
- Despite potential refunds, consumers are unlikely to benefit from lower prices.
- Economists suggest businesses may keep refunds to compensate for their own costs and adjustments.