US Launches Tariff Refund Website & Robots Outrun Humans in Half-Marathon
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Good morning, Brew Daily Show. I'm Neil Freiman. And I'm Toby Howell. Today, the robots are running half marathons faster than humans.
Then businesses rejoice. You can get in line for a tariff refund starting today. It's Monday, 420. Let's ride. Let's ride.
Good morning and welcome back to the week. I look forward to this day all year marathon day in Boston. Later this morning, more than 30,000 people are set to embark on a hilly 26.2 mile journey from Hopkinton to Boylston street with 500,000 spectators cheering them on this year's race. Hasn't been without a little brand controversy. Ahead of the marathon, Nike put up a sign at its Newberry Street store that read, runners welcome, walkers tolerated. That sentiment was criticized by some local runners and disability advocates for not being inclusive. And by Friday, the sign was taken down.
I see both sides of it, Neil. Tolerated felt like too harsh of a word, but also stick to your guns at Nike. If this is your brand identity, if you want a highlight winning, just do it. Don't get scared and back down because now you just look bad to everyone involved. Still, it shouldn't overshadow Marathon Day, which is awesome. We're finally getting some cool weather and even a little bit of a tailwind. So we should see some fast times.
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Refunds, get your refunds. Today is the start of the U.S. tariffs refunds process where the government will work to get money back to importers after the Supreme Court declared most of President Trump's tariffs unconstitutional two months ago. A tariff refund portal goes live today called CAPE. for Consolidated Administration and Processing of Entries, where businesses will be able to submit claims to snag a share of the estimated $166 billion owed in refunds. This is a big win for the business world, which has been in limbo ever since the Supreme Court ruled that the Emergency Powers Act was not a suitable cover for issuing widespread tariffs, but then stopped short of actually recommending how to process refunds.
Finally, some clarity is here. Though business owners are not going to wake up with a chunk of change in their bank account, the refunds are not automatic. Businesses or customs brokers must manually opt in then wait 60 to 90 days for approval. Still, if all goes to plan, companies will be able to recoup some of the tariffs that ate into their bottom line. Neil, is this the sort of thing that is going to trickle down to consumers? Are we going to see any of this money?
I wouldn't hold your breath. Tariffs are paid by importers and the only the importer of record is entitled to money back. So unless you actually imported a sneaker yourself from China or Vietnam to the United States, then you are not eligible.
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