Procter & Gamble recouped $100 million worth of Trump tariffs in the months after the U.S. Supreme Court ruled against the president’s use of emergency powers to levy the taxes, according to the company’s annual report.
The Cincinnati-based consumer products giant said it paid $200 million in tariffs that “may be recoverable” and had received half the money back before its fiscal year ended on June 30, according to August disclosures to investors and the U.S. government.
Shortly after the start of President Donald Trump's second term, he began trade wars against several countries, which P&G initially estimated in the spring of 2025 might cost it between $1 billion to $1.5 billion annually. Months later, the company lowered those estimates to $1 billion,
then to around $500 million annually.
P&G has not disclosed what it would do with the recovered money.
Meanwhile, Trump has not given up on his trade wars with other countries, but he is now using other parts of U.S. trade law to target imports. In July, Trump renewed threats against Canada and a new round of tariffs was announced Aug. 24.
P&G's international sales outgrew the U.S.
While more than half of its $87 billion in annual sales come from overseas markets, P&G is somewhat shielded from tariffs because it tends to manufacture its products close to the consumers it serves. The company has 24 factories in the U.S., but another 72 plants in 31 other countries, it said in filings with the U.S. Securities and Exchange Commission.
The report noted that while U.S. sales were virtually unchanged at $41.7 billion (up 0.2% from the previous year), international sales climbed 6.1% to $45.3 billion, with data indicating Europe and Canada grew the fastest.
Based in downtown Cincinnati, P&G employs 104,000 workers worldwide, including 10,000 in Greater Cincinnati. The company is known for several products in consumers’ kitchen pantries and medicine cabinets, including Tide detergent, Pampers diapers, Gillette razors, Pantene shampoo and Olay moisturizer.
This article originally appeared on Cincinnati Enquirer: P&G has gotten back $100M in Trump tariffs it paid
