CEOs Want Tariff Refunds As Earnings Take a Hit (cnbc.com)
- Reference: 0183154362
- News link: https://news.slashdot.org/story/26/05/07/1943229/ceos-want-tariff-refunds-as-earnings-take-a-hit
- Source link: https://www.cnbc.com/2026/05/06/tariff-refunds-earnings-hit-pandora-philips.html
> Companies across Europe are flagging disruption from tariffs as a factor contributing to a skewed earnings picture. "We will ask for a rebate of tariffs in line with the government policies," Roy Jakobs, CEO of healthtech firm Philips, told CNBC's "Squawk Box Europe" on Wednesday morning. "We have been saying that of course we prefer a world without tariffs, without trade barriers, because we want to serve patients." Philips included the cost of tariffs within its full-year guidance and did not assume the impact from any potential refunds. Danish jeweler Pandora also announced its intention to apply for a rebate on Wednesday, with CEO Berta de Pablos-Barbier telling CNBC that tariffs were a "headwind" to earnings in the first quarter. "We have no news yet, so we cannot count on any of that refund," she told CNBC's "Squawk Box Europe." "Let's wait and see."
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> De Pablos-Barbier noted that the biggest factor impacting Pandora's profit this quarter is the cost of silver, which more than quadrupled in the last 18 months. She reiterated the firm's pivot from pure silver to platinum as a way of reducing costs. BMW, Daimler, Renishaw, Smith & Nephew and Continental all flagged tariffs as negatively impacting results in a slew of earnings updates on Wednesday, but the companies did not say whether they are applying for rebates. Businesses often bear some of the cost of tariffs, with some costs passing on to consumers through price hikes. Tariffs have had an overall inflationary impact on the economy, economists have told CNBC.
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> Despite the refund process potentially covering more than 330,000 importers on roughly 53 million entries, per court documents, consumers are unlikely to benefit, according to the results of the latest [3]CNBC CFO Council quarterly survey . Twelve of the 25 chief financial officers interviewed said their company plans to apply for tariff refunds, however, none intend to lower prices in response.
[1] https://www.cnbc.com/2026/05/06/tariff-refunds-earnings-hit-pandora-philips.html
[2] https://yro.slashdot.org/story/26/02/20/1529240/us-supreme-court-rejects-trumps-global-tariffs
[3] https://www.cnbc.com/2026/04/13/tariff-refunds-unlikely-to-benefit-consumers.html
Re: (Score:2)
Roy Jakobs, CEO of healthtech firm Philips who had to pay tariffs on his products says things about tariffs that would benefit healthtech firm Philips. News at 11.
And of course pass those onto the customers (Score:2)
The CEO wants his $1m bonus, and they can't afford it, so they want to squeeze that $1m out of the government. The customers who paid more as a result of tariffs are, of course, just mugs who deserve to lose the extra they paid for being gullible enough to pay it.
Itâ(TM)s should be refunded without needing a (Score:2)
These were illegally applied tariffs. They have no grounds in sanity. There should be zero need to explain why itâ(TM)s s needed.
Trump pushed these out to anyone out anywhere that dared challenge the omniscience of the current president and his current whims. Itâ(TM)s was never based in genuine unfairness
So, ignoring this, um, threat... (Score:4, Informative)
I guess they'll be ignoring this: [1]Trump says he will 'remember' companies that don't seek tariff refunds [reuters.com]
> "It's brilliant if they don't do that," Trump said in a phone conversation with CNBC anchors that was aired live. "If they don't do that, I'll remember them. I will tell you that, because I'm looking to make this country strong," the Republican president said.
> Trump, who has characterized the payment of tariffs by U.S. importers as patriotic, on Tuesday appeared to characterize American companies that are pursuing refunds as the "enemy."
As he does with anyone who does and doesn't do what he wants.
> Trump said the Supreme Court "could have helped us" by upholding his sweeping global tariffs.
By ignoring the laws governing those tariffs and the fact that Congress has the power over most/those tariffs.
[1] https://www.reuters.com/legal/government/trump-says-he-will-remember-companies-that-dont-seek-tariff-refunds-2026-04-21/
Re: (Score:2)
Nothing would give me greater joy than to watch him attempt to draw the face of a clock on live tv. No way he could pass that cognitive test.
prost! (Score:2)
land of the free!
Prices are sticky (Score:2)
Anyone expecting corporations to not try to make a profit and extract maximum value for their shareholders ignore that that's their fiduciary duty. If they don't reward their customers, then maybe they'll lose out to a competitor. But otherwise they have no incentive to give it back.
For both Phillips and Pandora, their products are bigger ticket items. So not refunding some cost on a CPAP, defibrillator, or wedding ring isn't likely to cost them too much repeat business as long as they keep their prices com
Re: (Score:1)
> Anyone expecting corporations to not try to make a profit and extract maximum value for their shareholders ignore that that's their fiduciary duty.
Fortunately they're exempt from any ethical duty.
Re: (Score:2)
"Anyone expecting corporations to not try to make a profit and extract maximum value for their shareholders ignore that that's their fiduciary duty."
It is not. That's just a lie that sociopaths say. A company has no inherent duty, a company's values and responsibilities are only what its owners say they are. You are just assuming that everyone believes exploitation is all that matters because you personally believe that. Family-owned businesses traditionally don't prioritize "extracting maximum value".
"
Re: (Score:2)
> Family-owned businesses
These aren't privately owned businesses. They are corporations who officers have a responsibility to their shareholders. And I am not their shareholder nor an executive acting on their behalf. Nor am I naive enough to think that their shareholders will see it in their best interests to return a paycheck that they don't have to.