• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Biden administration posts last-minute rule to curb low-value shipments

by January 17, 2025
written by January 17, 2025

WASHINGTON (Reuters) – The Biden administration on Friday issued last-minute proposed rules to curb duty-free imports under the $800 “de minimis” threshold, denying the low-value shipments exemption for goods that are subject to other punitive U.S. tariffs.

The move marks a setback for e-commerce firms, including China-based Shein and PDD Holdings’ Temu, which have exploited the de minimis threshold to ship millions of small packages a day to U.S. customers.

The Biden administration first announced in September that it was taking steps to curb the trade “loophole” that it blames for shipments of fentanyl precursor chemicals to evade customs inspection and tariffs.

U.S. Customs and Border Protection agency said the proposed rules would deny duty-free exemptions to low-value packages containing goods subject to Section 301 tariffs on hundreds of billions of dollars of Chinese imports, including many apparel items. They also would eliminate similar exemptions to goods subject to Section 232 tariffs on steel and aluminum and Section 201 duties on solar products.

In addition, small package shippers also will be required to include the 10-digit Harmonized Tariff Schedule classifications for the package contents in order to claim the exemption. The move will allow customs officials to better identify and interdict illicit goods.

“We cannot let Chinese-founded e-commerce platforms gain an unfair trade advantage while American businesses play by the rules,” National Economic Advisor Lael Brainard said in a statement.

“Today’s actions are an important step forward to level the playing field for American workers, retailers, and manufacturers and to enforce U.S. laws that protect the health and safety of our consumers.”

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Macquarie flags 3 potential market-moving themes for Trump’s inaugural address
next post
23andMe considers selling its telehealth unit Lemonaid

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Lawyer group urges overhaul of US bank charter...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • Exclusive-New US ethics czar starts vetting incoming Trump officials
    • Norway stocks lower at close of trade; Oslo OBX down 0.08%

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy