Trump suspends de minimis exemption for low-value imports [View all]
Source: CBS News
President Trump on Wednesday signed an executive order suspending what's known as a de minimis exemption allowing low-value parcels that are shipped to the United States to avoid tariffs.
The White House said it's closing what it called a "catastrophic loophole" that shippers use to "evade tariffs and funnel deadly synthetic opioids or below-market products" into the U.S. The order goes into effect Aug. 29.
The exemption had applied to parcels valued at $800 or less, and allowed overseas retailers to ship inexpensive goods to consumers in the U.S. tax-free.
"President Trump is putting an end to the proliferation of shippers worldwide that, among other things, deceptively exploit the de minimis privilege in an effort to evade duties, inspection, and U.S. law," the White House said in a fact sheet outlining the new policy.
Read more: https://www.yahoo.com/news/articles/trump-suspends-minimis-exemption-low-185825077.html
Slobfather want to squeeze even more from us.
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