Swiss companies want a tariff refund from the US

Swiss companies like Breitling and Läderach have called for refunds after the US Supreme Court ruled US President Donald Trump’s 2025 import tariffs illegal.

Swiss companies push for US tariffs refund

Last week, on February 20, the US Supreme Court ruled that the import tariffs imposed by President Trump in 2025 on global trade partners were illegal. 

Swiss companies that have been impacted by the tariffs could now be able to reclaim money lost due to the import charges. Breitling, a well-known Swiss watchmaker, has confirmed that it intends to do so: “We will try to reclaim the tariffs from the US government,” said Breitling CEO Georges Kern, according to Watson.

The Swiss watchmaking industry was particularly affected by the US tariffs because the majority of products are manufactured in Switzerland and exported globally. 

Läderach, a popular Swiss chocolate brand, also intends to try to recoup some of the money lost. “If the opportunity arises to reclaim overpaid amounts, we will do so," according to a Läderach spokesperson. Money lost by international companies to US import tariffs could amount to billions of US dollars.

Trump announces additional 15 percent import tariffs

In August 2025, Trump announced a 39 percent import tariff on all goods from Switzerland imported into the US. The tariff was later reduced to 15 percent following negotiations with the Swiss government.

The US Supreme Court has now ruled that Trump can not impose import taxes on trade partners based on the 1977 International Emergency Economic Powers Act (IEEPA) and that he has exceeded his presidential powers.

The matter has been further complicated after Trump announced a 15 percent import tariff, in addition to the tariffs already in place, in defiance of the Supreme Court’s ruling. Trump has used Section 122 of the Trade Act of 1974 to impose tariffs for 150 days to “address fundamental international payments problems”, reports the BBC.