BERLIN, Aug 21 — German companies have recouped hundreds of millions of euros in overpaid tariffs following February’s landmark US Supreme Court ruling, German Press Agency (dpa) reported on Friday, citing Wirtschaftswoche business magazine.
Listed German companies received refunds totalling around €790 million (RM3.73 billion), Wirtschaftswoche reported.
Logistics giant DHL alone received €416 million (RM1.96 billion).
The DAX-listed company said recently that it intends to pass the money on to its customers.
Medical technology company Siemens Healthineers received just over €200 million (RM944 million), chief financial officer Jochen Schmitz said in late July.
Other companies also expect substantial refunds later this year, Wirtschaftswoche reported.
In total, the US government refunded around US$5.3 billion (RM21.4 billion) in the same period the previous year.
The US Supreme Court ruled in mid-February that tariffs imposed under an emergency law were unlawful, finding that President Donald Trump had exceeded his authority when he imposed sweeping tariffs against dozens of trading partners.
Trump has since imposed new tariffs under different legislation. — Bernama-dpa
Malay Mail – Money
📈 Looking for Ways to Grow Your Savings?
After budgeting or planning your property expenses, explore smarter investing options like REITs and stocks for long-term growth.
📈 Start Trading Smarter with moomoo Malaysia →(Sponsored — Trade REITs & stocks with professional tools)
