Finance
British Retailer Asos Moves to Recoup US Tariff Costs
Published by Global Banking & Finance Review®
Posted on April 23, 2026
2 min readLast updated: April 23, 2026
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ASOS has begun seeking refunds on approximately £7 million in US IEEPA tariffs paid during H1 as part of its margin-focused turnaround strategy amid ongoing legal and policy developments around these tariffs (about $9.44 million).
British retailer ASOS moves to recover US tariff costs
ASOS Seeks Refunds Amid Global Tariff Challenges
April 23 (Reuters) - ASOS said on Thursday it has started seeking refunds for the 7 million pounds ($9.44 million) of U.S. tariffs paid during the first half of the year, as the British retailer pursues a margin-focused turnaround plan to revive demand.
Global Legal Action Over U.S. Tariffs
Thousands of companies around the world are filing lawsuits challenging U.S. President Donald Trump's sweeping tariffs and seeking refunds on duties paid, after the levies were deemed illegal by the U.S. Supreme Court in February.
Impact on Online Fashion Retailers
Online fashion retailers such as ASOS are particularly vulnerable to duty costs on imported goods as they work to rebuild profitability after the pandemic-era expansion gave way to weakening consumer demand.
Competitive Pressures and Cost-Cutting Measures
Once a standout survivor of the dotcom burst, ASOS has been trying to win back shoppers and cut costs amid stiff competition from cheaper Chinese rivals.
Wider Economic and Geopolitical Impacts
Global retailers are now bracing for an impact from the Iran war as customer spending declines and a surge in energy prices and supply-chain snags compound costs further.
ASOS's Response and Outlook
ASOS said it has taken proactive actions to help mitigate such impact, but gave no details on said actions.
The company confirmed its outlook for the full year.
Exchange Rate and Reporting Credits
($1 = 0.7413 pounds)
(Reporting by Yamini Kalia in Bengaluru; Editing by Subhranshu Sahu)
Key Takeaways
- •ASOS is reclaiming roughly £7 million ($9.44 million) in US IEEPA tariffs paid in the first half of the year as part of its margin-revival plan.
- •The Supreme Court invalidated IEEPA-based tariffs in February 2026, creating potential for importers like ASOS to seek refunds, though the process remains complex and slow.
- •Customs is building a new automated system to process potentially hundreds of billions in refund claims, but administration and legal hurdles mean refunds could take many months or more.
Frequently Asked Questions about British retailer ASOS moves to recoup US tariff costs
1Why is ASOS seeking refunds on US tariffs?
ASOS is seeking refunds on US tariffs as part of a margin-focused turnaround plan to revive demand.
2How much did ASOS pay in US tariffs?
ASOS paid 7 million pounds ($9.44 million) in International Emergency Economic Powers Act (IEEPA) tariffs during the first half of the year.
3What strategy is ASOS pursuing to improve its financial performance?
ASOS is pursuing a margin-focused turnaround strategy to recover from previous losses and boost demand.
4Which act were the tariffs charged under?
The tariffs were charged under the International Emergency Economic Powers Act (IEEPA).
