This bill would exempt small businesses from tariffs imposed under a national emergency declaration from April 2, 2025, and require the government to refund any tariffs they've already paid on imported goods. The legislation applies to companies that meet the Small Business Administration's definition of a small business concern, which typically includes firms with fewer than a certain number of employees or a cap on annual revenue, depending on the industry. Within 90 days of the bill becoming law, the President would need to issue refunds to small businesses for any duties they paid under the emergency declaration. The bill is intended to ease the financial burden on small importers and local businesses affected by the emergency tariffs.
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