Companies Wait on Transfer-Pricing Changes After Tariff Ruling

US multinationals are facing a dilemma over their transfer pricing and President Donald Trump’s tariffs, and so far, many companies are responding to it by standing pat.

When Trump imposed his sweeping “Liberation Day” tariffs last year, it prompted some companies to make major changes to their transfer pricing—the way transactions between parts of the company are valued. They revamped their operations to try to avoid imports from high-tariff countries, or reallocated where they booked profits to account for the costs of the tariffs.

The Supreme Court overturned Trump’s tariffs in February, but so far, many companies aren’t unwinding their ...