A little-known trade loophole could have a significant impact on imports coming into the United States from China and on domestic businesses.
On Feb. 1, President Donald Trump signed several executive orders directed at Canada, China, and Mexico. Those three executive orders mentioned the cancellation of “de minimis treatment” for “all articles” produced in any of the three countries.
Removing the de minimis standard means that goods of any value will be subject to all duties assessed by the United States. Previously, items worth less than $800 were imported duty-free.
On the morning of Feb. 3, Trump and Mexican President Claudia Sheinbaum announced a deal to delay 25 percent of U.S. tariffs on Mexican goods that were to take effect on Feb. 4….