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In a Feb. 1 executive order, President Trump announced an additional 10% across-the-board tariff on all Chinese imports and ended the de minimis exemption. Above, Trump and China’s President Xi ...
The new U.S. tariffs include an end to the “de minimis” rule—a loophole that exempts packages below $800 from being subject to tariffs—on imports from China. This means that packages from ...
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 addition to imposing a 10% levy on Chinese imports, Mr. Trump's executive order also suspended a little-known customs exemption that allowed goods of de minimis value — items worth less than ...
The trade rule, known as “de minimis,” has existed for nearly a century. It came under greater scrutiny in recent years due to the rapidly growing number of low-cost items from China coming into the U.S. tax-free, mainly from prominent online retailers such as Shein, Temu and Alibaba’s AliExpress.
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.
Trump's executive order took aim at a little-known trade rule called "de minimis." More than 90% of all packages coming into the U.S. now enter via de minimis.
Trump’s executive order placing a 10% tariff on Chinese goods includes goods previously covered by the loophole, called the de minimis exemption. Hundreds of millions of packages each year use ...