Bill > HR4899

This bill, known as the Creating Access to Necessary American-Canadian Duty Adjustments Act (CANADA Act), seeks to exempt goods imported by or for small businesses from specific duties associated with a national emergency declared by the President on February 1, 2025. The national emergency was originally established through Executive Orders 14193, 14197, and 14226, which imposed certain trade-related restrictions or duties. The bill uses the definition of "small business concerns" as outlined in section 3 of the Small Business Act, effectively providing relief for smaller enterprises by removing the financial burden of these emergency-related import duties. By targeting small businesses, the legislation aims to reduce economic strain on smaller companies that might be more vulnerable to additional trade costs during a national emergency, potentially helping to support and protect these businesses' economic viability.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/4899/all-info