Sam (crazy candle person) ✦
@samantha
1/ I have a nuanced take on tariffs, as someone who actually imports/exports and has manufacturers in the U.S. and Canada for /humankind. Originally when Trump was elected a lot of my manufacturing friends thought that he would get rid of the “de minimis” (which the media is referring to a loophole or subsidy). The de minimis rule outlined in the USMCA dictates that goods imported under $800 are not subject to tariffs. That means that Americans buying almost anywhere outside of the U.S. for goods under $800 are not subject to paying state taxes, because they’re paying for goods (incl. tax) to other countries. This gave a lot of room for Chinese manufacturers like SHEIN and Temu to dominate the market for fast fashion and home goods. However, me and my friends thought that he would get rid of the de minimis for *just China. It is unusual that he started with Canada and Mexico.
4 replies
5 recasts
55 reactions
matthewb.eth
@matthewb
great post, thank you for sharing
0 reply
0 recast
1 reaction
