De minimis loophole closed: How Trump's tariff will target Chinese companies like Shein? 10-point explainer
Temu and Shein. On Saturday, Trump signed executive orders imposing tariffs on the country’s top three trading partners.
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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.
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The United States has officially closed the "de minimis loophole", which is a trade provision that has granted foreign e-commerce giants such as SHEIN and Temu an unfair advantage in the competitive retail market. How will the new Trump ban hit Chinese companies?
-The de minimis rule allows goods valued under $800 to be shipped directly to American consumers without incurring import duties, customs declarations, or extensive inspections. It dates back to 1938.
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