Trump closes the online shopping loophole that beat tariffs
The article discusses an executive order signed by President Trump that will eliminate the de minimis exemption on tariffs on a worldwide basis, effective August 29. The de minimis exemption allowed goods valued under $800 to be imported to the United States without being tariffed, enabling consumers to buy items from e-commerce sites without paying additional tariffs. Trump's order will now subject all overseas purchases to tariffs, with the rate depending on the country of origin. Packages from countries with a tariff rate below 16% will be assessed $80 per item, while those between 16-25% will be $160 per item, and above 25% will be $200 per item. The order states that this measure is a response to "unusual and extraordinary threats" that exist outside the US, and that the systems to process these tariffs are now in place.
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