CSCO · 10-Q · 2026Q2 · Full report

Trade Policy and Tariffs

CISCO SYSTEMS, INC. · 2026-05-19 · Importance 44 · Surprise 60 · In source text

Cisco is exposed to new and proposed tariffs and other trade policies, with the potential impact described as uncertain but potentially significant if the exposure persists and cannot be mitigated. On February 20, 2026, the U.S. Supreme Court ruled that tariffs previously imposed under the International Emergency Economic Powers Act (IEEPA) were unauthorized. Cisco may be eligible for refunds of tariffs paid on imported goods, but recoverability and timing remain uncertain, and the company has not recorded a benefit; management believes any refund will not materially affect the business or Consolidated Financial Statements.

Key facts

• We may be eligible for a refund of tariffs previously paid on imported goods due to the U.S. Supreme Court ruling on February 20, 2026 that IEEPA tariffs were unauthorized, but we have not recorded any benefit for a potential refund. source

Impact estimates