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Both sites grew exponentially in the U.S. in recent years helped by the so-called de minimis rule, a measure that exempted shipments worth less than $800 from import duties.
“At the same time, Temu and Shein are building empires around the de minimis loophole in our import rules – dodging import taxes and evading scrutiny on the millions of goods they sell to ...
But the rapid rise of cross-border e-commerce, driven by China, has challenged the intent of the decades-old customs exception rule. Chinese exports of low-value packages soared to $66 billion in 2023, up from $5.3 billion in 2018, according to a report released last week by the Congressional Research Service.
De minimis, a legal term referring to matters of little importance, describes the U.S. waiver of standard customs procedures and tariffs on imported items worth less than $800 that are shipped to ...
But the rapid rise of cross-border e-commerce, driven by China, has challenged the intent of the decades-old customs exception rule. Chinese exports of low-value packages soared to $66 billion in 2023, up from $5.3 billion in 2018, according to a report released last week by the Congressional Research Service.
The cancellation of de minimis means low-value e-commerce packages arriving in the United States with goods from China must use the "formal entry" process that requires additional information and ...
Under U.S. tax rules, the de minimis rule governs the treatment of small amounts of market discount. Under the rule, if a bond is purchased with a small amount of market discount (an amount less than 0.25% of the face value of a bond times the number of complete years between the bond's acquisition date and its maturity date) the market discount is considered to be zero and the discount on the ...
In September 2024, the Biden administration announced that it would propose a new rule to close the $800 de minimis exception to import duties and institute additional information disclosure requirements. [39] The plan raised concerns that small sellers could be hurt disproportionately compared to larger platforms such as Temu. [40]