The U.S. President Donald Trump has signed an executive order to do away with a loophole ‘de minimis’, which enabled low value items from Hong Kong and China to enter the U.S without any duties.
The order will come into effect at 12:01 a.m Eastern Time May 2, 2025 in White House’s Rose Garden after the announcement of new tariffs.
The development came after Commerce Secretary Howard Lutnick said “adequate systems are in place to collect tariff revenue” on the...