President Donald Trump’s “Liberation Day” announcements on Wednesday delivered a blow not just to key trading partners—but also to popular companies like ultra-cheap Chinese retailers Shein and Temu.
Along with a flurry of new tariffs announced by Trump, the White House said the president signed an executive order shutting down the de minimis trade loophole beginning May 2.
Under the loophole, shipments worth less than $800 can enter the U.S. duty-free, allowing foreign retailers to sell their products to Americans for cheap. Trump suspended the trade exemption in February but later delayed its cancellation after the U.S. Postal Service said it would halt all inbound packages from China and Hong Kong.
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