Welcome back to the The Economic Populist’s Weekly Rewind. Every Friday, we’ll briefly recap the week’s biggest news, updates, and developments the in fight against corporate power.
Here’s what to know this week.
De Minimis Loophole Closing This Month
Amidst more chaotic tariffs announcements, there was great news on Wednesday when the White House issued an executive order closing the de minimis trade loophole effective August 29. This exception to U.S. customs rules has allowed more than four million packages (mainly bought online from China) to enter the United States daily — including untold numbers of counterfeit or forced-labor-produced goods and deadly fentanyl-tainted products or drug precursors.
Technically, the de minimis exception allowed U.S. residents to import up to $800 of goods per day without duties or inspections. Major e-commerce retailers seized on the exception, which was originally used mainly for tourists bringing back souvenirs and for gifts from overseas, to sell direct-to-consumer products online. Rethink Trade has long advocated for no commercial goods to enter through de minimis. We are thrilled to join U.S. labor, manufacturing, law enforcement, and fentanyl family organizations in celebrating the loophole’s closure.
