United StatesSmall businesses would be exempt from specified emergency import duties
Goods imported by or for small businesses would be exempt from import duties tied to the national emergency declared on February 1, 2025.
What it does
Goods imported by small businesses or for their use would be exempt from duties tied to the February 1, 2025, national emergency. Other import duties are outside this exemption.
Argument forThe exemption could lower small businesses’ import costs by removing the specified emergency duties from goods imported by or for them.
Argument againstThe exemption could reduce federal revenue from these import duties by excluding goods imported by or for small businesses.
More detail
The specified emergency import duties would not apply to goods imported by or for small businesses. The exemption covers duties imposed under the February 1, 2025, national emergency in Executive Order 14193, as amended by Executive Orders 14197 and 14226. Businesses must meet the definition of a small business in section 3 of the Small Business Act.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Aug 5Introduced in HouseLatest
- Aug 5Referred to the House Committee on Ways and Means.Introduced
TradeEconomy & Jobs