Creating Access to Necessary American-Canadian Duty Adjustments Act; CANADA Act
Summary
The CANADA Act (Creating Access to Necessary American-Canadian Duty Adjustments Act) aims to exempt small businesses from duties imposed due to a national emergency declared on February 1, 2025. This emergency was declared by the President and outlined in Executive Orders 14193, 14197, and 14226. The bill seeks to provide economic relief to small businesses importing goods from Canada.
Expected Effects
If enacted, the CANADA Act would reduce the financial burden on small businesses importing goods from Canada. This could lead to increased trade and potentially lower costs for consumers. The Act specifically references Section 3 of the Small Business Act (15 U.S.C. 632) for the definition of 'small business concerns'.
Potential Benefits
- Reduced costs for small businesses importing goods.
- Potential for increased trade between the U.S. and Canada.
- Possible lower prices for consumers.
- Support for small business growth and sustainability.
- Mitigation of negative economic impacts from the declared national emergency.
Potential Disadvantages
- Potential decrease in government revenue from duties.
- Possible advantage for small businesses over larger companies.
- Complexity in defining and verifying 'small business concerns'.
- Possible unintended consequences on domestic industries.
- Dependence on the executive branch's declaration of national emergency.
Constitutional Alignment
The bill aligns with the constitutional principle of Congress regulating commerce with foreign nations (Article I, Section 8, Clause 3). It also relates to the power of Congress to enact laws necessary and proper for carrying into execution the powers vested by the Constitution (Article I, Section 8, Clause 18). The bill does not appear to infringe on any specific constitutional rights or limitations.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).