Good one! Trump killing carried interest and now this. Its a good day

 

   What Closing the De Minimis   Tariff Loophole for US Imports                from China Means

What effects have the US de minimis loophole had?

With the threshold as high as it is in the US, around 4 million small packages claiming de minimis exemptions crossed into the US every day in 2024. They often go unchecked before being transferred to a truck for delivery directly to the consumer’s doorstep.

This has helped give American consumers access to lots of cheap merchandise sold by ecommerce retailers in China such as Temu and Shein. But it’s also strained global supply chains, raised air cargo costs and swamped border enforcement efforts. What’s more, the packages are thought to be one of the growing ways illegal drugs such as fentanyl are smuggled into the country and how other goods enter the US in violation of rules against imports from regions known for human-rights abuses. The administration of President Joe Biden was well on its way to cracking down on de minimis abuses before he lost his reelection bid in November, so Trump’s ban wasn’t a complete surprise.