CANADA Act

S 2383, the CANADA Act, exempts small businesses from import duties imposed under a national emergency declaration (Executive Order 14193, as amended). Specifically, it removes duties on goods imported by or for small business concerns, as defined in the Small Business Act (15 U.S.C. 632). This applies to the emergency declared on February 1, 2025, covering duties from the referenced executive orders. The bill directly affects small businesses importing goods during this specific emergency period by reducing their import costs.