Trump suspends trade loophole for cheap online retailers globally
Text settings Story text Size Small Standard Large Width * Standard Wide Links Standard Orange * Subscribers only Learn more Minimize to nav E-commerce giants everywhere felt the sting Wednesday when President Donald Trump announced that the US will be “suspending duty-free de minimis treatment for low-value shipments” worth $800 or less from anywhere in the world. Americans will likely soon feel the crunch, with one recent study estimating that the cost of eliminating the trade loophole overall to US consumers could fall between $10.9 billion and $13 billion while “disproportionately” hurting “lower-income and minority consumers” who buy a higher percentage of cheap imports. Price hikes will likely come this fall, as the trade loophole…
