Small businesses are scrambling as US tariff exemption comes to an end
International postal services are suspending shipments to the United States after an exemption on tariff duties for small packages is set to expire. It’s the latest example of how President Donald Trump’s sweeping trade policy is impacting US consumers and businesses.
Beginning Friday, the “de minimis” exemption, which allowed shipments of goods worth $800 or less to enter the United States duty free, will be eliminated.
… snip …
US Customs and Border Protection estimated that more than 1.36 billion de minimis shipments entered the country last fiscal year. The agency processes more than 4 million de minimis shipments each day.
According to the latest executive order, businesses may face an $80 per item charge for a country with a tariff rate less than 16%, or costs as high as $160 per item for a country with a tariff rate of between 16% and 25%, and $200 per item for a country with a tariff rate above 25%. On August 7, the US imposed new tariff rates on many trading partners, with Brazil facing the highest tariff rate, at 50%.
More from :
From CNN
https://archive.ph/RSKio
= new reply since forum marked as read
Kick in to the DU tip jar?
This week we're running a special pop-up mini fund drive. From Monday through Friday we're going ad-free for all registered members, and we're asking you to kick in to the DU tip jar to support the site and keep us financially healthy.
As a bonus, making a contribution will allow you to leave kudos for another DU member, and at the end of the week we'll recognize the DUers who you think make this community great.