German companies recover nearly €800 million paid earlier in US tariffs
German businesses have recovered more than €790 million previously paid in US customs duties, according to the magazine "Wirtschaftswoche". The refunds became possible after the US Supreme Court struck down a set of tariffs in February.
German business publication "Wirtschaftswoche" reports that companies in Germany have managed to recover more than €790 million that they had previously paid as customs duties to the United States.
The refunds became possible after the US Supreme Court ruled in February to strike down a number of tariffs. Those tariffs had been imposed last year on numerous countries around the world, including Germany, by US President Donald Trump, who justified the move by invoking a law intended for use in emergency situations.
Following the court's ruling, companies that had already paid the tariffs gained the opportunity to claim back the sums they had contributed, and German firms have made extensive use of this option, together recovering an amount approaching €800 million.
