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Trump suspends trade loophole for cheap online retailers globally | US spiking costs to import cheap goods from anywhere rattles e-commerce giants.
US spiking costs to import cheap goods from anywhere rattles e-commerce giants.
E-commerce giants everywhere felt the sting Wednesday when President Donald Trump announced that the US will be "suspending duty-free de minimis treatment for low-value shipments" worth $800 or less from anywhere in the world. That example seems to support economists' forecast that eliminating the exemption risked flipping US trade policy "from pro-poor to pro-rich." That trade move seemingly posed a bigger threat to the bottom lines of its rivals, Temu and Shein, even though Amazon had recently launched a China-direct marketplace called Haul.
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