The luxury watch brand Breitling is examining customs claims to the US government.Image: keystone
With most of Trump’s tariffs found illegal, companies could seek money back from the US government. Two well-known Swiss companies are already examining their options.
02/22/2026, 07:3202/22/2026, 07:55
It is a bitter setback for Donald Trump: many of his tariffs have been found illegal by the highest US court. The US President is not thinking about rethinking his economic policybut the starting position for companies affected by tariffs looks significantly more advantageous. US companies, but also international companies, who, as direct importers with US subsidiaries, had to pay surcharges to the governmentcould now make demands to get money back. This also includes several Swiss companies.
Two well-known companies are already openly talking about recovery plans. According to the Grench-based luxury watch manufacturer Breitling, as CEO Georges Kern told the NZZ on Sunday confirmed: “We will try to reclaim the tariffs from the US government.”
“I cannot disclose how much we paid, but it is significant amounts.”
The Swiss watch industry in particular was severely affected by Trump’s tariff war, as the majority of it is produced in Switzerland and then exported. The companies chose different strategies to deal with the economic policy minefield. While Swatch boss Nick Hayek is one of the loudest Supporters of a confrontational course against the Trump administration profiled, Rolex boss Jean-Frédéric Dufour tried to soften Trump’s spirits by giving him a cuddle. Dufour was also there controversial visit by Swiss entrepreneurs in the Oval Office and presented the US President with a luxury watch.
The Glarus chocolate manufacturer Läderach also wants to present itself to the US authorities. “If the opportunity arises to reclaim amounts that have been overpaid, we will do so,” a spokesman told the “NZZ”.
Official Switzerland, on the other hand, does not want to make any hasty decisions. Despite Trump’s judicial defeat, the Federal Council initially wants to continue negotiations with the US government. This is mainly due to the prevailing uncertainty. Trump is in no way willing to change his aggressive tariff policy, as his initial reactions to the ruling showed. Initially he wanted to impose a worldwide tariff rate of ten percent based on other laws, but shortly afterwards he increased the rate to 15 percent.
According to Federal President Guy Parmelin, Switzerland’s goal remains the same: a legally binding agreement that should guarantee stability – “regardless of legal and political developments in the USA”. (con)