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Water Cooler / Biden is cracking down on Shein and Temu (and much more) | Fortune
« on: September 13, 2024, 04:20:10 PM »
https://fortune.com/2024/09/13/biden-china-shein-temu-tariffs-imports-loophole-crackdown/
..." by saying that companies are no longer exempt from tariffs simply by shipping goods that they claim to be worth less than $800.
President Joe Biden would no longer exclude these “de minimis” imports from tariffs under a proposed rule released Friday to tax all imports if they’re covered under Sections 201 or 301 of the Trade Act of 1974, or Section 232 of the Trade Expansion Act of 1962.
Importers mainly from China have used the de minimis exemption for shipments of $800 or less to flood the U.S. market. The number of these shipments has jumped from 140 million annually to over 1 billion a year"
..." by saying that companies are no longer exempt from tariffs simply by shipping goods that they claim to be worth less than $800.
President Joe Biden would no longer exclude these “de minimis” imports from tariffs under a proposed rule released Friday to tax all imports if they’re covered under Sections 201 or 301 of the Trade Act of 1974, or Section 232 of the Trade Expansion Act of 1962.
Importers mainly from China have used the de minimis exemption for shipments of $800 or less to flood the U.S. market. The number of these shipments has jumped from 140 million annually to over 1 billion a year"