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Thu, 23 Apr 2026

Thu, 23 Apr 2026 Asos demands £7m from US as firms rush to claim tariff refunds

Hundreds of thousands of firms could potentially win back some money after the tariffs were struck down.
Asos seeks £7m in refunds from US tariffs Online fashion retailer Asos is pursuing refunds for £7m worth of tariffs it paid in the first half of its financial year. The company has begun the process of seeking reimbursement after a US Supreme Court ruling struck down "Liberation Day" tariffs imposed by Donald Trump. Asos made a pre-tax loss of £137.9m in the six months to 1 March, compared with a £241.5m loss a year earlier. Potential refunds for importers The US Court of International Trade has ordered customs officials to refund over $160bn (£121bn) in tariffs collected under the International Emergency Economic Powers Act (IEEPA). More than 56,000 importers have completed necessary steps to apply for refunds online since the portal opened. Successful applicants can expect refunds and interest to be paid within 60-90 days. Some importers report smooth experience Some businesses reported a smooth experience when applying for refunds through the online portal, while others received error messages due to high volume. Asos' announcement comes as it continues with its turnaround plan after being a "pandemic darling" during Covid lockdowns.