Trump’s bid to collect tax on small Chinese parcels will cost the US
The US attempt to abolish the "de minimis" exemption for Chinese goods, initially introduced to streamline the entry of small packages, has faced significant challenges and been temporarily paused. This exemption, which allows goods below a certain value to enter without tariffs and extensive customs procedures, has become increasingly important with the rise of e-commerce, but efforts to curtail it have gained momentum in Congress.
The de minimis rule, particularly the US's relatively high threshold of $800, has been praised for its efficiency in facilitating trade, reducing costs, and speeding up deliveries. However, concerns about security and unfair competition have led to calls for its elimination or reduction, mirroring the lower thresholds in countries like the EU, Canada, and Japan. While the US's paused attempt highlights the complexities of balancing trade facilitation with regulatory concerns, Hong Kong stands apart by not applying any duties or tariffs, thus having no need for de minimis rules.
via SCMP Full Text Feed
The US attempt to abolish the "de minimis" exemption for Chinese goods, initially introduced to streamline the entry of small packages, has faced significant challenges and been temporarily paused. This exemption, which allows goods below a certain value to enter without tariffs and extensive customs procedures, has become increasingly important with the rise of e-commerce, but efforts to curtail it have gained momentum in Congress.
The de minimis rule, particularly the US's relatively high threshold of $800, has been praised for its efficiency in facilitating trade, reducing costs, and speeding up deliveries. However, concerns about security and unfair competition have led to calls for its elimination or reduction, mirroring the lower thresholds in countries like the EU, Canada, and Japan. While the US's paused attempt highlights the complexities of balancing trade facilitation with regulatory concerns, Hong Kong stands apart by not applying any duties or tariffs, thus having no need for de minimis rules.
via SCMP Full Text Feed
