Swiss garden tool manufacturer Felco stands to potentially recoup millions of francs following the U.S. Supreme Court’s decision to invalidate tariffs imposed by former President Donald Trump. The company, which exports 95% of its production to over 120 countries, with roughly a quarter of its sales coming from the United States, has already begun the process of seeking reimbursement for duties paid, according to its CEO Nabil Francis.
Francis, speaking on the Swiss radio program Forum, acknowledged the process will be lengthy. “When the tax went from 39% to 15%, we were informed it would be retroactive. We therefore requested refunds for those amounts,” he said. “Today, customs administration, as you can imagine, is clearly overwhelmed.” The company is now preparing to request refunds dating back to April 2025, anticipating a “marathon rather than a sprint.”
Impact on Swiss Businesses and the Strong Franc
The potential for tariff refunds comes as welcome news for Swiss companies that have faced uncertainty in the U.S. Market since the imposition of the tariffs. In February 2026, questions remained for Swiss businesses regarding the implications of the changing U.S. Trade policies, as reported by RTS.ch. Still, Francis emphasized that while recovering these funds is important, his primary concern lies with the continued strength of the Swiss franc.
“What worries us, as business leaders – and especially those heading exporting SMEs – is the continued appreciation of the franc,” Francis stated. He believes the strong franc is eroding profit margins and poses a significant threat to the future of Switzerland’s export industry. He argues that intervention by the Swiss National Bank (SNB) in the foreign exchange market would be more beneficial than any negotiated agreement between Switzerland and the United States regarding tariffs.
“The franc is doing us more harm, despite everything we hear,” Francis said. He added, “I don’t pretend to have all the solutions, but a debate is necessary. We must realize that the ostrich policy no longer works today. The context has changed. The recipes of the past will not guarantee our prosperity in the future.”
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Felco’s Global Reach and U.S. Market Importance
Felco, specializing in gardening tools, particularly secateurs, maintains a subsidiary in the United States. The American market represents a significant portion of the company’s revenue, and the ability to reclaim previously paid tariffs could provide a substantial boost to its financial performance. The company’s extensive export network, reaching over 120 countries, underscores its reliance on favorable international trade conditions.
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While the potential tariff refunds offer a positive outlook, Francis’s comments highlight the broader challenges facing Swiss exporters, particularly the impact of a strong Swiss franc on their competitiveness. The SNB’s monetary policy and exchange rate management will likely remain a key focus for businesses like Felco in the coming months.
The Swiss administration is currently processing requests for tariff reimbursements, but a timeline for completion remains unclear given the reported backlog. Companies are advised to continue monitoring developments and prepare for a potentially protracted process. Further updates on the status of these refunds and the SNB’s response to the strong franc are expected in the coming weeks.
Share your thoughts on the impact of U.S. Tariffs and the strength of the Swiss franc on Swiss businesses in the comments below.
