Ford "Expects 1.9 trillion won refund due to invalidation of Trump tariffs"

Ford "Expects 1.9 trillion won refund due to invalidation of Trump tariffs"

U.S. automaker Ford expects to receive approximately $1.3 billion (approximately 1.9 trillion Korean won) in tariff refunds following a U.S. Supreme Court ruling that invalidated some tariffs imposed by the Trump administration.

According to foreign media reports, including CBS News on the 29th (local time), Ford announced that it has raised its annual adjusted earnings before interest and taxes (EBIT) forecast to $8.5 billion to $10.5 billion, an increase of $500 million from its previous forecast, reflecting the effect of these tariff refunds.

This is due to the tariff refund effect being reflected as an accounting profit in the first quarter's performance.

However, it added that the actual refund timing is uncertain.

Previously, in February, the U.S. Supreme Court ruled that broad tariffs imposed by the Trump administration last year based on the International Emergency Economic Powers Act (IEEPA) were illegal.

Following this ruling, the U.S. Customs and Border Protection (CBP) launched an online refund system on the 20th to return approximately $166 billion (approximately 246 trillion won) in tariffs.