This bill provides relief to small businesses from tariffs imposed under presidential trade authority and prevents price gouging on goods affected by those tariffs. Small businesses would be exempt from paying tariffs on imported goods and would receive refunds for any tariffs already paid within 90 days of the law's enactment. The bill also prohibits companies from raising prices on tariff-affected goods by more than the actual cost of the tariff plus any additional costs directly tied to tariff compliance, with enforcement handled by the Federal Trade Commission. Small businesses are exempt from the price-gouging restrictions. The FTC must establish a consumer reporting mechanism within 180 days and issue annual reports on pricing impacts, while state attorneys general can also pursue civil enforcement actions. The price-gouging protections last for five years following when tariffs take effect or are announced.
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