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De minimis trade rule (view source)
Revision as of 14:32, February 3, 2025
, 14:32, February 3, 2025Trump halted a trade exemption which allows exporters to ship packages worth less than $800 into the U.S. duty free.
Opponents argue that the only significant effects will be (1) retaliatory tariffs and (2) higher prices for American consumers.
Opponents argue that the only significant effects will be (1) retaliatory tariffs and (2) higher prices for American consumers.
CNBC reported that:
*Trump on Saturday signed executive orders imposing tariffs on the country’s top three trading partners. Goods imported from Canada and Mexico will be slapped with a 25% tariff, while goods from China will be charged a 10% tax. Energy resources from Canada will have a lower 10% tariff. The duties are expected to take effect on Tuesday.
*The orders against China, Canada and Mexico all halt a trade exemption, known as “de minimis,” which allows exporters to ship packages worth less than $800 into the U.S. duty free. [https://www.cnbc.com/2025/02/02/trump-tariffs-take-aim-at-trade-loophole-used-by-temu-shein.html]