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Asos demands £7m from US as firms rush to claim tariff refunds
Online fashion retailer Asos is pursuing roughly £7m in US tariff refunds for the first half of its financial year after the Supreme Court struck down the 'Liberation Day' tariffs in February, clearing the way for refunds. A refunds portal opened in mid-April for businesses to apply, with mixed early experiences, while Asos reported a narrowed six-month pre-tax loss as it continues its turnaround.
Why It Matters
The refunds program covers hundreds of thousands of importers and could affect the cost environment for retailers facing US tariffs, highlighting ongoing effects of tariff policy on global trade and business turnaround efforts.
Timeline
8 Events
Asos cites inflation and Middle East conflict as ongoing issues
April 23, 2026
Asos said it had taken proactive actions to mitigate inflationary impacts and supply chain issues arising from the conflict in the Middle East, and that it would monitor developments closely.
Asos announces it is pursuing US tariff refunds
April 23, 2026
Asos said it had begun the process of pursuing refunds from the US for about £7m of tariffs paid in the first half of its financial year.
Refunds portal opens for tariff claims
April 20, 2026
An online portal opened to allow businesses to apply for tariff refunds, with some users reporting smooth experiences and others receiving error messages.
Refund timeline and consumer compensation note
April 2026
US Customs and Border Protection said successful applicants can expect refunds, plus any interest, to be paid in 60 to 90 days, while some individual consumers hit indirectly by tariffs are not expected to be compensated.
Early-April portal activity and claims total
April 2026
By early April 2026, more than 56,000 importers had completed the necessary steps to apply for refunds online, with their claims worth about $127bn.
Asos reports six-month results to March 1, 2026
March 1, 2026
Asos said it had a pre-tax loss of £137.9m for the six months to 1 March 2026, compared with £241.5m a year earlier, as part of its turnaround plan.
US Court of International Trade orders tariff refunds
March 2026
In March 2026, the US Court of International Trade ordered customs officials to refund more than $160bn of tariffs, putting roughly 330,000 importers in line for reimbursements under the IEEPA framework.
US Supreme Court strikes down Liberation Day tariffs, enabling refunds program
February 2026
In February 2026, the US Supreme Court ruled that the Trump-imposed 'Liberation Day' tariffs were beyond the president's powers, paving the way for a large refunds programme.