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Shein's and Temu's prices will get hit even harder by the new de minimis rule [BNN Bloomberg (Canada)]
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US:NASDAQ Investor Relations: phx.corporate-ir.net/phoenix.zhtml%3fc%3d97664%26p%3dirol-irhome
Trump eliminated the so-called “de minimis exemption,” which had admitted duty-free shipments of goods worth US$800 or less into the United States. Giant e-commerce sites used the loophole when shipping hundreds of millions of packages to US consumers. The administration did away with the exemption for goods coming out of China and Hong Kong in May amid the US-China trade war. This latest move extends that to every country around the world. Trump said in an executive order issued on Wednesday that “many shippers go to great lengths to evade law enforcement and hide illicit substances in imports that go through international commerce” and the risk of “evasion, deception, and illicit-drug importation are particularly high for low-value articles that have been eligible for duty-free de minimis treatment.” This is more bad news for Chinese retailers and their customers because it shuts down the option of re-routing small shipments duty-free through countries like Vietnam, which is
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