Businesses across the U.S. may be in line for a significant financial boost after federal agencies launched an online system allowing importers to apply for tariff refunds. Monarch Trophy Studio, a business on the North Side, is among those trying to recover extra money paid for tariffs over the past year.
Tariff Refund Portal
Owner Charlie Drago said FedEx is helping him gather invoices and documents needed to submit for rebates. Drago told KSAT last year ahead of Fiesta that ongoing tariffs on items from China created financial challenges that affected prices on Fiesta medals.
In April, Federal agencies launched an online portal called the International Emergency Economic Powers Act (IEEPA) Duty Refunds program. Business owners impacted by tariffs can apply for the program and may receive a rebate, though strict time limits apply based on when imports crossed the border.
Drago said, “We are so grateful for the business we’re doing. If we get a rebate on tariffs, it’s like Christmas. It doesn’t make or break us. We’re just glad to be here.” The program is managed through U.S. Customs and Border Protection. Business owners looking to apply can start by contacting their shipping provider.
Original reporting: San Antonio, TX News (HLL/CB) — read the source article.
