The Big Money Show panelists were abolished on the tariff threats of President Donald Trump and their impact on the global economy.
President Donald Trump The new tariffs include a provision that suspends the key trade hole that Chinese traders like Shein and the topic used to expand their access to US consumers and criticized for allowing the shipment of Prekursor Fentanil to enter the country.
Trump’s executive command Tariff imposing On China, Canada and Mexico on Tuesday, they included the language of the suspension of the so -called holes of “de minimis”, which allows a shipment of imports worth less than $ 800 to enter the United States without duties and taxes from these three countries. Trump paused on Tariffs on Mexico a month after Claudia Sheinbaum agreed to send 10,000 soldiers to the border of the US-Mexico.
The De minimis rule reduces administrative loads on low -budget imports. In 2015, Obama Administration raised a renunciation threshold with $ 200 at the current $ 800 – which resulted in the shipments requested a renunciation of de min to increase by over 600% in the last decade to more than billion items in the Fiscal year 2023, according to data from the data from us customs and border protection (CBP).
The Chinese giants for the Shein and the topic have seen rapid growth in the US market through de minimis shipments of fast fashion, toys and other wide consumer consumers. A report of the Congress Research Service (CRS) noted that Shein and the topic combined to consist of about 17% of the US discount of November 2023.
Shein’s pressure, the topic accelerates closing retail
The Chinese platforms for the Shein e-commerce and the topic used the De minimis hole. .
Increase from Shein and the topic He contributed to the increase in the closure of the US retailer, according to the Coresight Research report. It was estimated that about 15,000 shutters would occur in 2025. After 7,323 closures occurred in 2024 – which was the largest number of shutters from 2020, when almost 10,000 stores were closed.
Reduced shipment control de minas is also associated with the smuggling of the fantanila synthetic opioid that killed nearly 75,000 people in 2023.
The investigation of Reuters journalists last year revealed that they could use the De minimis hole for imports of major chemicals for predecessors for at least 3 million fental tablets due to foreign shippers who deliberately misleading packages as electronics.
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President Donald Trump’s tariffs on China, Canada and Mexico closed the so -called hole of “de minimis” for lower imports from imports from these countries. (Chip Somodeville / Getty Images)
“The flow of illegal drugs such as fental in the United States through the illegal distribution network and international mail – therefore, in the case of the latter, the existing administrative exemption of duty and tax, also known as De Minimis,” Trump’s tariff order in Canada said.
The problems with the hole of the De Minimis have attracted the attention of congresses and previous administrations.
Earlier this month, outgoing Biden administration He suggested a rule that would eliminate de minimis treatment of goods from China, which is susceptible to tariffs, and at the same time require that shipping companies include 10 digit tariff codes on packages to make it easier for customs officers to identify and move illegal goods.
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MPs also expressed concern that the hole enabled Chinese companies to deliver products using the De minimis hole and avoid monitoring the Uyghurus Law on the Protection of Workpiece (UFLPA). This law aims to prevent the goods he has made forced work by UyghursA Muslim minority persecuted by the Chinese Communist Party, since joining the US market.
Reuters contributed to this report.
