💨 Abstract

President Donald Trump has closed a trade loophole, known as de minimis, that allows low-value packages to be shipped from China duty-free. This move is part of Trump's implementation of additional tariffs on China, Canada, and Mexico. De minimis, a legal term for matters of little importance, waives standard customs procedures and tariffs on imported items worth less than $800.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖