Listed companies in Germany have received refunds of more than 790 million euros for paid US tariffs over the past weeks, according to a report by "WirtschaftsWoche." In total, approximately one billion euros has already flowed back to the companies.
Berlin, 21 August 2026
Listed companies in Germany have received refunds of more than 790 million euros for paid US tariffs over the past weeks, according to a report by "WirtschaftsWoche."
According to "WirtschaftsWoche," the refunds amount to roughly one billion euros that has since been paid back to the affected corporations. The background is a decision by the Supreme Court that retroactively classified the tariffs imposed by Donald Trump during his term as unlawful.
The refunds affect companies that had paid import duties to the US government over the past months. With the Supreme Court's decision, the legal basis for the levy was eliminated, so the paid amounts are now flowing back to the companies.
Among the recipients of the refunds is, according to "WirtschaftsWoche," the logistics giant DHL, which is one of the most heavily affected listed corporations in Germany. DHL had repeatedly reported in recent weeks on the burdens imposed by the US tariffs in its business figures.
The amount of the refunds varies depending on the business volume and tariff burden of the individual companies. Industry experts view the refunds as significant relief for the German export economy, which had suffered under the additional duties in recent months.
"WirtschaftsWoche" bases its information on analyses of quarterly reports and communications from the affected corporations, as well as on calculations by tax and customs experts. The data was reportedly confirmed by a total of six sources.
The repayments are not the first financial relief that German companies have received in connection with the Trump tariffs. Previously, several companies had already released provisions for the tariff payments as soon as the court decision became foreseeable.
The economic significance of the refunds extends beyond the immediate liquidity effect. Analysts also see in this a signal that US trade policy under Trump remains legally vulnerable and that the consequences for affected companies are becoming more calculable.
It remains unclear so far whether the US government will take action against the repayments. The Trump administration had defended the tariffs as a necessary instrument for safeguarding domestic industries and, after the defeat before the Supreme Court, signaled political resistance against the refunds.
For the German economy, it remains to be seen how the refunds will be reflected in the coming quarterly reports. Economists expect that the funds will be used, among other things, for investments, dividend payments, and strengthening the equity capital base.
"WirtschaftsWoche" announced further research into the refunds and the distribution of the funds across individual industries. Industry associations simultaneously called for the swift processing of the outstanding repayment procedures by the US authorities.
