Despite the trade deal with China, Trump still maintains a 120% tariff on cheap goods.
An official at the White House confirmed on Monday that small packages from China will continue to be subject to a 120% tariff — a major blow for consumers looking for cheap goods from e-retailers like Shein and Temu in the U.S.
Significance: Trump previously closed the loophole allowing low-value goods to enter the U.S. duty-free. Although retaliatory tariffs on most other Chinese imports have been reduced, these tariffs seem to have become the new norm.
Background: The Trump administration announced a temporary trade agreement on Monday, slashing tariffs on Chinese goods from 145% to 30% for a period of 90 days.
- A White House official told Axios that the 120% tariff on goods valued under $800 or a fixed fee of $100 per postal item is not included in the agreement.
- Starting June 1st, the fixed fee will increase to $200.
- Previously, packages valued under $800 enjoyed the "de minimis exemption" policy, allowing foreign online retailers like Temu and Shein to sell inexpensive goods to American consumers.
Source: https://www.toutiao.com/article/1831953328911371/
Disclaimer: The article solely represents the author's viewpoint.