Kristen Schwab
๐ค SpeakerAppearances Over Time
Podcast Appearances
There it was, $10,000 in tariff refunds, half of what the government owes her company, Sarah Wells Bags, which makes products for new moms.
I was really hesitant to believe it would be real until the check was in the bank, so to speak, and it was exciting to see it.
She already has plans for the refund.
She's earmarked the money to pay for other tariffs still in place.
But she's not letting herself get too excited.
I think it's okay to do both celebration on these refunds, but also be mindful that we're still in a state of real upheaval.
Many of the business owners I've talked to about these tariff refunds are, like Wells, still in disbelief that they're actually happening, even after seeing the cash in their accounts, and even though the process for many businesses has been drama-free.
Brian Burke is chief commercial officer at the customs brokerage Seco Logistics.
As of about a week ago, U.S.
Customs and Border Protection says it's approved more than $35 billion of the $166 billion that's owed to businesses.
And Burke says though there's still some tariff uncertainty, businesses are feeling confident enough to order goods regularly again.
One company I talked to even lowered its prices last week after getting a $20,000 refund.
Glory International Trade is a distributor that imports small appliances like blenders and fans from China and Vietnam.
Vice President of Operations Zhang Luhay hopes to get another $40,000.
I am a little bit skeptical about the remaining amount just because I'm not sure if there will be any money left over for refunds.
Getting any money back is good, but it's almost as if tariffs have taken a back seat.
There are other things to worry about now, like the economy.
Luhe says not long after the war started, trucking companies started increasing prices.
They started charging fuel surcharges.
So I think that's like an extra $200 for every shipment.