PEP · 10-Q · 2026Q2 · Full report

Supply Chain Tariff Impact

PEPSICO INC · 2026-07-09 · Importance 40 · Surprise 42

PepsiCo warns that the imposition of tariffs (including U.S. tariffs on China, the EU, Canada, Mexico and other countries) have impacted and may continue to impact its supply chain through increased input costs for raw materials and packaging. The filing notes that during the 24 weeks ended June 13, 2026, the U.S. Supreme Court ruled many IEEPA tariffs invalid and that PepsiCo has submitted (and expects to continue to submit) tariff recovery claims to U.S. Customs and Border Protection seeking refunds of eligible IEEPA tariffs. Management cautions that recoverability, timing and amounts of any refunds remain uncertain and subject to CBP review and further developments, while also noting the U.S. Administration has initiated new tariffs and may impose additional tariffs. The company will continue to evaluate tariff impacts and pursue mitigation actions where possible.

Key facts

• Following the ruling we have submitted, and expect to continue to submit, tariff recovery claims through U.S. Customs and Border Protection seeking a refund of certain eligible IEEPA tariffs. source
• During the 24 weeks ended June 13, 2026 the U.S. Supreme Court ruled that many of the tariffs previously imposed under the International Emergency Economic Powers Act (IEEPA) were invalid. source