Trump will end the de minimis exemption for low-cost global shipments

3 months ago 5

President Donald Trump's latest economic move is to halt the de minimis exemption, a provision that made international shipments of low-value items cheaper. When the exemption ends on August 29, shipments valued at or under $800 will be subject to duty fees when sent by any carrier other than the international postal network, no matter what country they are coming from.

According to the White House's announcement of this change, shipments will either be assessed with an ad valorem duty equal to the tariff rate for the country of origin set by the International Emergency Economic Powers Act or with a limited-time specific duty between $80 and $200 per item. The specific duty will only be a available for six months, a...

Source: https://www.engadget.com/big-tech/trump-will-end-the-de-minimis-exemption-for-low-cost-global-shipments-202707806.html?src=rss

Read Entire Article

Disclaimer of liability !!!

NEWS.SP1.RO is an automatic news aggregator. In each article, taken over by NEWS.SP1.RO with maximum 500 characters from the original article, the source name and hyperlink to the source are specified.

The acquisition of information aims to promote and facilitate access to information, in compliance with intellectual property rights, in accordance with the terms and conditions of the source.

If you are the owner of the content and do not wish to publish your materials, please contact us by email at [email protected] and the content will be deleted as soon as possible.