Canon Has Been Refunded 90% of the Tariffs That Were Ruled Illegal

Canon’s July 2026 financial report shows that the company received 58 billion yen (about $365 million) through the second quarter of 2026, which it says was almost entirely attributable to tariff refunds. “More than 90% of the tariff refunds have already been received in the first half of the year, and only a small amount is expected in the second half,” the company says.

Canon raised prices last year in response to tariffs implemented by President Donald Trump. Those tariffs were ruled illegal in February, however, and the government was ordered to refund companies. The thing is, customers in the U.S. were the ones who actually bore the burden of these increases, not the countries or companies who shipped products. It may rub some the wrong way that now companies get that money back, with it unlikely to be shared with buyers. Nintendo’s recent response is probably how companies feel about this whole situation: It asserted that customers “received exactly what they bargained and paid for.”