The National Federation of Independent Business (NFIB) is urging the Trump administration to continue to make the U.S. Customs and Border Protection (CBP) online tariff refund portal efficient for small businesses.
In addition, the NFIB called on large companies to make sure they share refunds with their small business partners who absorbed increased costs indirectly.
“America’s small businesses deserve a straightforward opportunity to reclaim their fair share of tariff refunds, and we thank the Administration for getting this system up and running quickly,” Brad Close, NFIB president., said. “Big Businesses are already filing lawsuits and lining up for refunds. Main Street should be given the same opportunity as their larger competitors to recover any increased costs that were passed on directly to them. Most small businesses will navigate this process with limited resources and without an attorney or trade expertise. We urge the Administration to continue optimizing the tariff refund process to ensure it is efficient and manageable for America’s small businesses.”
A recent NFIB survey showed that despite low import and export numbers among small businesses, a majority reported noticeable impacts of tariffs on their business. In addition, it found that small business sentiment on tariffs is mixed but leans positive. Specifically, 53 percent favor the new tariffs to some degree, while 29 percent oppose them, and 19 percent are neutral.
In addition, the survey found that 56 percent of respondents reported that tariffs negatively impact operations, including 16 percent who cited a significant negative impact. Only 8 percent report positive effects, and 35 percent have experienced no impact so far.
Of those negatively impacted, 78 percent reported higher prices for supplies or inventories, while 58 percent reported lower profits, and 43 percent reported supply chain disruptions due to the change in tariff policy. Of those not currently impacted, 51 percent do not anticipate an impact in the next few months, while 36 percent say they don’t know, reflecting ongoing uncertainty.
NFIB is a leading advocate for small and independent businesses.