Felco Eyes Millions in US Tariff Refunds, Warns Strong Franc is Bigger Threat

Swiss garden tool manufacturer Felco is poised to seek millions of francs in refunds following the U.S. Supreme Court’s decision on February 20th to invalidate tariffs imposed by former President Donald Trump, the company’s CEO Nabil Francis announced Wednesday.

The ruling, which struck down what the court deemed “reciprocal” tariffs enacted in 2025, has opened the door for businesses impacted by the levies to reclaim duties paid. Felco, which exports 95% of its production – including a quarter of its sales to the U.S. Market – immediately began preparing claims, Francis said.

“We have already started the process to try and recover the customs duties deemed illegal by the U.S. Supreme Court,” Francis stated in an interview, estimating the potential reimbursement to be “in the millions” of francs. He cautioned, however, that the process would be lengthy, citing a previous tariff adjustment where refunds took considerable time due to an “overwhelmed” customs administration. “Now, it’s about requesting a retroactive refund since April 2025. I think it will be a marathon rather than a sprint,” he added.

The Supreme Court’s decision, stemming from the case Learning Resources Inc. Vs Trump, affirmed the U.S. Constitution’s provision granting Congress sole authority to impose tariffs during peacetime. The ruling effectively curtails the power of the executive branch in trade policy, according to reports from Le Monde and Le Figaro.

Despite the potential for tariff refunds, Francis expressed greater concern over the continued strength of the Swiss franc. He argued that the currency’s appreciation poses a more significant threat to Swiss exporters than trade disputes. “What worries us, as business leaders, and especially those heading SMEs who export, is the continued appreciation of the franc,” Francis said. “It erodes margins and raises a real question about the future of the export industry in Switzerland.”

Francis advocated for intervention by the Swiss National Bank (SNB) in the foreign exchange market, suggesting it would be more beneficial than a bilateral agreement with the United States regarding tariffs. “The franc is doing us more harm, despite everything we hear,” he stated. He called for a broader debate on the issue, arguing that past approaches are no longer sufficient in the current economic climate.

Following the Supreme Court ruling, President Trump responded with a decree announcing a new global tariff of 10%, according to reports from TV5Monde. The implications of this new tariff, and the timeline for potential refunds from the invalidated levies, remain unclear.