Good morning!
Here are today’s highlights:
An owner whose business survived a cyber attack offers some straight-forward advice.
Although manufacturing jobs are down, Greg Ip points out that factory output has risen “briskly.”
People like to say you should never give up, but sometimes that’s the only reasonable course.
AI is helping grocers cut food waste and protect their margins.
TARIFF REFUNDS
Today’s the first day businesses can file for tariff refunds: “When President Trump unveiled his sprawling global tariffs last spring, he boasted that they would generate windfall profits and ‘make America wealthy again.’ But after suffering a significant Supreme Court defeat, Mr. Trump is about to pay the money back. The Trump administration on Monday is set to take its first steps toward returning more than $166 billion collected from tariffs that were struck down in February. Just over a year after imposing many of the duties, the government is expected to begin accepting requests for refunds, surrendering its prized source of revenue — plus interest.”
“Many business owners said they weren’t sure how easy the tariff refund process would be, particularly given Mr. Trump’s stated opposition to returning the money. The administration has suggested that it may be months before companies see any money. Adding to the uncertainty, the White House has declined to say if it might still try to return to court in a bid to halt some or all of the refunds.”
“Melkon Khosrovian, the co-founder of Greenbar Distillery in Los Angeles, prepared for the refund process by readying documents and registering on the new government refund portal. Mr. Trump’s duties had been a ‘nightmare’ for his distillery, he said, which requires foreign-grown ingredients like vanilla, nutmeg, juniper berries, coffee, tea, and hibiscus. Mr. Khosrovian, a participant in We Pay the Tariffs, a coalition of small businesses that have opposed the president’s policies, admitted he didn’t have high hopes that he would see a refund anytime soon. His company had paid nearly $100,000 in tariffs that are now deemed illegal.”
“Sara Albrecht, the chairman of the [Liberty Justice Center], sounded optimistic before Monday that the refunds could proceed at a good pace. But, she added, it would not undo the damage done to businesses since Mr. Trump announced his tariffs at the event he had dubbed ‘Liberation Day’ last April. ‘It still doesn’t address the harm that small businesses endured over the past year,’ Ms. Albrecht said, explaining that the layoffs and other cuts that firms had to make mean they are ‘not going to be made whole.’” READ MORE
