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Philips to Request Tariff Rebate from Trump Administration
Philips CEO Roy Jakobs said the company will ask the Trump administration for a rebate on tariffs. The Dutch healthcare group reported high growth in order intake, driven by demand in North America. The confirmation came during an interview on CNBC's Squawk Box Europe.
May 6, 4:06 AM·1m read1 source
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Philips CEO Roy Jakobs said the company will request a rebate on tariffs from the Trump administration. The Dutch healthcare group has seen high growth in order intake. This growth was boosted by demand in North America, Jakobs stated in an interview aired two hours ago on CNBC's Squawk Box Europe.
The executive confirmed the planned request while discussing the company's recent performance. Philips produces a range of healthcare equipment including imaging systems, patient monitors and consumer health devices. Companies in sectors ranging from manufacturing to healthcare have reported higher costs as a result.
The company reported the order intake growth during the same appearance in which it disclosed plans to seek the tariff rebate. No specific figures for the order growth were provided in the segment. Philips is headquartered in the Netherlands and sells products globally.
The firm has maintained operations in the United States, where it generates a substantial portion of its revenue from hospitals and consumers. The Trump administration has not yet commented on the anticipated request from Philips or similar appeals from other firms.
