Swiss companies want to reclaim US tariffs
The first Swiss companies want to reclaim overpaid US customs duties. However, many questions remain unanswered.
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“Our subsidiary in the US will apply for a retroactive refund of the surcharges paid,” Swatch announced on Monday in response to an enquiry from the news agency AWP. Rolex did not wish to comment on any claims for reimbursement.
Two other well-known companies, chocolatier Läderach and watchmaker Breitling, had already told the Neue Zürcher Zeitung at the weekend that they would reclaim the customs duties paid. Breitling boss Georges Kern spoke of “significant amounts”.
+ US tax yo-yo blurs situation for Swiss companies
According to the CH-Media newspapers, the ski manufacturer Stöckli also intends to claim back customs duties, as do the computer accessories manufacturer Logitech, the biotechnology company Jungbunzlauer, the watch company Sowind Group and the luxury goods group CL International.
Uncertainty high
“As far as the chances of reclaims and the necessary procedure are concerned, a lot is still open at the moment,” said Noé Blancpain from the industry association Swissmem in response to an enquiry. The Supreme Court has not ruled on the issue of reclaiming the customs duties, meaning that lower courts must now make a judgement.
+ ‘We’ll have to live with US tariffs,’ warns SECO head
Blancpain explained that the customs duties were technically paid by the importer in the US. This could be the customer itself, a distribution company or a subsidiary of the Swiss manufacturer, he said. Accordingly, the importer must make the reclaims.
In practice, Swiss industrial companies have in most cases assumed part of the customs costs by adjusting their prices, he said. They would therefore have to reach an agreement with their customers.
Adapted from German by AI/ts
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