Canadian Businesses Get Tariff Refunds: Process Still Complex

0:00Some Canadian small businesses can now get refunds on those hefty 35% tariffs from Trump's so-called Liberation Day push. A US judge ruled back in March that these hit non-CUSMA-compliant goods and were unconstitutional so the refund system just launched this week. Earlier this year, the Supreme Court backed that up, saying Trump overstepped by jacking up import taxes on stuff from nearly everywhere, calling the trade deficit a national emergency. Companies shelled out billions before the tariffs got axed on February 20th. Canadian firms paid the price and now can apply by listing their affected shipments with refunds going straight to whoever footed the bill, no need to. Pass it back to customers. But as tricky, you need a US Customs account and bank to cash in. The Canadian Federation of Independent Business is guiding folks through it, though their trade director caused the process super complicated, especially for small outfits with lots of border shipments. One playground maker in Ontario paid up, but skipped applying. Two burned out by all the paperwork nightmare.

1:04Meanwhile, tariffs on steel, aluminum, cars, and lumber stick around keeping the chaos rolling for businesses already hit with revenue dips and lost. Deals amid global turbulence. Small players are still grinding through this trade roller coaster, hoping for smoother rides ahead. Stay informed with Calgary News today. AI-powered updates. I'm Corey with The Story.