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What is the trade loophole that Trump has shut?
short by Pragya Swastik / on Thursday, 6 February, 2025
US President Donald Trump has shut the "de minimis" exemption on import tariffs, a trade loophole used to ship low-value packages duty-free from China. 'De minimis', legal term for matters of little importance, describes the US waiver of standard customs procedures and tariffs on imported items worth under $800 shipped to individuals. China's Shein, Temu, AliExpress benefitted from de minimis.
read more at Reuters