Forwarders predict fall in airfreight rates as ecommerce eyes sea freight
Forwarders are warning that although the airfreight market currently seems stable, conditions could change very ...
© Vladyslav Starozhylov
Several legislative proposals have been introduced in US Congress over the past few months that would degrade the de minimis tax exemption. Put simply, de minimis exempts goods in the US valued below $800 from paying duty. All other US enforcement laws apply to de minimis, and Customs and Border Protection (CBP) has repeatedly stated that it enforces all other laws.
But policymakers should understand that degrading de minimis, now the most common way goods enter the US economy, would have ...
Comment on this article
FRANK CIRIMELE
July 04, 2024 at 11:08 pmI’m sure that Temu and Shein, both of whom have been accused of utilizing slave labor and have questionable quality, contributed to this article. I recently received a shirt via a vendor that turned out to be in China. Shirt came directly to me bypasssing Customs. There was no country of origin tag, content tag, the quality was terrible and the seller never responded to my inquiries to return for a refund (I finally had the credit card company decline the payment).
So we now have millions of items bypassing any Customs inspections and not having to adhere to US standards. Sounds like the U.S. consumers stand to lose a lot more than the supposed “$14B” mentioned in this article.