Reported about 21 hours ago
President Trump has signed an executive order ending the de minimis tax exemption for low-value parcels, primarily from China, which has allowed millions of tax-free items to enter the U.S. daily. Effective May 2, this change will mean a 30% duty or $25 fee on packages valued under $800, raising concerns about increased prices and shipping times. The move is seen as a response to trade loopholes and illegal activities associated with cheap imports, with potential consequences for e-commerce giants like Shein and Temu, which thrived under the previous exemption.
Source: YAHOO