Import Tariff Refunds and Longer Notice for Future Tariff Increases.
This law provides relief to importers by mandating the refund of specific additional duties collected on certain European Union products imported during two 60-day periods in 2019 and 2021. Crucially, it also requires the government to give businesses at least 60 days' advance notice before implementing future tariff increases, allowing companies better planning for import costs. This stability can indirectly benefit consumers through more predictable pricing of imported goods.
Key points
Importers of specific EU goods can claim refunds for extra tariffs paid during designated 60-day windows in 2019 and 2021.
The government must now provide 60 days' advance notice before imposing new or increased tariffs, preventing sudden cost shocks for businesses.
Importers must file refund requests with Customs and Border Protection (CBP) within one year of the law's enactment.
Expired
Citizen Poll