SAN ANTONIO – 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 on the North Side is among those businesses trying to recover extra money paid for tariffs over the past year.
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.
Now, a year later, Drago says the uncertainty has been difficult, but his focus remains on his customers.
“We actually ended up going through a period of time where we were selling the product cheaper to the customer than we paid for it, but we couldn’t go back and tell the customer, ‘Hey, we told you this price, and now it’s this price.’ So we ate tariffs for a while,” Drago said.
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.
“We are so grateful for the business we’re doing,” Drago said. “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. Drago said FedEx has been instrumental in helping him compile the necessary documentation.