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Published by Global Banking & Finance Review®
Posted on April 23, 2026
2 min read
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)