Games Workshop, the UK-based maker of Warhammer miniatures, has recovered £7.8 million in US tariffs after the Supreme Court ruled Donald Trump's use of emergency powers to impose them was illegal, chief executive Kevin Rountree revealed in the company's latest financial report. However, Rountree warned that new tariffs and global conflicts, including the Iran war, continue to threaten the firm's supply chain, undercutting hopes that the tariff saga was behind it.

The company paid £12 million in new US tariffs last financial year but reclaimed £7.8 million for the period up to February 2026 following the court ruling. Trump has since introduced a new 10% global tariff rate, which Rountree said would cost Games Workshop a further £13 million this year, while he also flagged a roughly £2 million hit from supply-chain disruption and energy market volatility. Despite the turbulence, the business remains strong, with pre-tax profit rising 4.9% to a record £275.7 million for the year to 31 May.