President Donald Trump signed an executive order (EO) aimed at ending a trade loophole that allows retailers to avoid import duties on “Liberation Day.”
Trump signed an EO Wednesday aimed at eliminating the de minimis loophole on products from China and Hong Kong. The rule shielded companies from import duties on certain packages valued at $800 or less. Such Chinese packages sent outside of the international postal network will face “all applicable duties” under the new rule.
Such imports from China sent within the network will be subject to a tax rate of 30 percent of their value or $25 per item imported, according to the EO. The EO also states the dollar amount will increase to $50 starting June 1.
“Many shippers based in the People’s Republic of China (PRC) hide illicit substances and conceal the true contents of shipments sent to the United States through…
