The closure of the de minimis exemption allowing tariff-free imports of goods worth $800 or less from China and Hong Kong is poised to increase prices on popular items. As Americans familiarize themselves with the new regulations, experts predict diminished orders from retailers like Shein and Temu. This move comes amid efforts to curb illegal fentanyl trade alongside a backdrop of ongoing trade policy fluctuations initiated during President Trump's administration, who had recently ordered both the closure and reinstatement of the loophole within a short period.
The loophole allowing cheap imports from China and Hong Kong without tariffs is closing, leading to higher prices that may deter American consumers from buying such goods.
The de minimis exemption for imports valued under $800 is being eliminated by President Trump to restrict fentanyl imports and increase customs revenue with the rising volume of such shipments.
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