S. 2383: Creating Access to Necessary American-Canadian Duty Adjustments Act

This bill, titled the Creating Access to Necessary American-Canadian Duty Adjustments Act, aims to provide an exemption for certain goods imported specifically for small businesses from duties imposed during a national emergency. The national emergency was declared by the President on February 1, 2025, and is referenced in several executive orders. The key points of the bill are outlined below:

Purpose of the Bill

The main goal of the bill is to alleviate financial burdens on small businesses by exempting them from certain import duties that have been enacted as a result of the declared national emergency. This exemption is intended to help these businesses access necessary goods without the additional costs of duties.

Definition of Small Business Concerns

The bill defines "small business concerns" in accordance with the Small Business Act. These are generally businesses that meet specific criteria set forth by the Act, often based on the number of employees or annual revenue, allowing various types of enterprises to qualify for the exemption.

Duties and National Emergency Context

The duties in question are those that have been implemented following a national emergency declaration, specifically under Executive Orders 14193, 14197, and 14226. By exempting small businesses from these duties, the legislation aims to support their operations during challenging economic times.

Implementation

If passed, this legislation would mean that small businesses could import goods without the financial burden of additional duties that other businesses would still need to pay under the national emergency measures. This could potentially encourage more small businesses to engage in international trade and improve their access to necessary supplies.

Overall Impact

The anticipated outcome of this bill is to support small businesses by making it more affordable for them to import goods. This could lead to increased competitiveness for small enterprises in the market, allowing them to better serve their customers and maintain operations during the emergency period.

Relevant Companies

None found