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☆ Americans are still paying more for shoes, luggage and hats after Biden left Trump’s tariffs in place
▼ + stars: | 2024-06-16 | by ( Katie Lobosco | ) edition.cnn.com time to read: +12 min

Courtesy Abby ChowningThe tariffs Biden left in place – which are paid by US importers and not China – hit roughly $300 billion of goods. After Trump’s tariffs hit, some US companies sought new manufacturers in other countries. The Covid-19 pandemic upended the global economy roughly two years after Trump’s trade war began. Several studies show that Trump’s tariffs only marginally contributed to the rise in US inflation experienced after the pandemic and the following supply chain crisis. Trump’s tariffs were meant to get China to address those issues.

Persons: Donald Trump, Trump, Tiffany Zarfas Williams, ”, Zarfas Williams, Joe Biden, –, “ Trump, ” Biden, “, Biden, ’, Abby, China –, Rick Muskat, Jake Muskat, Alena Margolis, Muskat, ” Muskat, Phil Page, Page, Bryan Finch, ” Page, Morgan, Nate Herman, Matt Priest, Priest, Steve Madden, ” Jared Bernstein, we’ve, ” Bernstein, Justin Sullivan, ” Herman, Xi Jinping, Biden “ Organizations: Washington CNN —, China, Trump, Biden, Deer Stags, JCPenney, America, Cap America, American Apparel & Footwear Association, Bureau of Labor Statistics, Footwear Distributors, Retailers of America, Adidas, Columbia, Nike, White House Council, Economic Advisers, China Business, Trade, National Council of Textile Organizations, Port Locations: Lubbock, Texas, China, Ukraine, Missouri, Vietnam, Bangladesh, Port of Oakland, Oakland , California

☆ Labor unions, domestic manufacturing groups launch coalition to reform de minimis import loophole
▼ + stars: | 2024-03-06 | by ( Chelsey Cox | ) www.cnbc.com time to read: +4 min

-WASHINGTON — Labor unions, domestic manufacturers, business associations and other interest organizations on Wednesday announced a bipartisan coalition to target an import loophole allowing billions of un-taxed goods into the U.S."The coalition we have assembled is a testament to the mounting pressure to close the de minimis loophole," Rep. Earl Blumenauer, D-Ore., said. The ranking member of the House Ways and Means Subcommittee on Trade is working in conjunction with the new Coalition to Close the De Minimis Loophole. CBP said it processed over 1 billion de minimis shipments in FY '23, according to a report last modified on March 1. The company has been valued at over $66 billion according to a November report, while PDD reported third-quarter revenue of $9.44 billion that month. "Our industry has lost astonishingly 10 plants in five months as a result of the de minimis loophole," Glas told reporters.

Persons: Rep, Earl Blumenauer, minimis, Blumenauer, Mike Gallagher, Gallagher, Neal Dunn, Sherrod Brown, Marco Rubio, Dunn, Dan Bishop, Rosa DeLauro, Conn, Shein, PDD, Kim Glas, Glas Organizations: Port, WASHINGTON — Labor, Wednesday, Trade, Coalition, Chinese Communist Party, U.S . Customs, CBP, CNBC, House CCP Committee, PDD Holdings, National Council of Textile Organizations, AFL, Alliance for American Manufacturing, Coalition for, Prosperous Locations: China, Port of Los Angeles, Long Beach , California, U.S, United States, Sens, Ohio, Singapore, Prosperous America

But the de minimis rule also has powerful defenders. China's exports grew only 0.6% last year, but the bright spot was cross-border e-commerce, which includes but is not limited to the de minimis packages. In a January meeting with Mayorkas, the National Council of Textile Organizations complained about unfair trade practices, including the de minimis rule. It is unclear how much fentanyl and other illicit drugs may be slipping undetected into the country in the small packages. On a recent Friday morning at Chicago's O'Hare airport, small parcels that had arrived by mail from overseas were on conveyor belts going through X-ray machines for inspection.

Persons: Lindsey Puls, Puls, ”, Alexander Mayorkas, Earl Blumenauer of, ” Blumenauer, Sen, John Thune, LaFonda Sutton, Burke, Charles Benoit, Benoit, Mayorkas, Videojournalist Melissa Perez Winder, Haleluya Hadero Organizations: WASHINGTON, Will, Homeland, National Foreign Trade Council, FedEx, UPS, DHL, eBay, South Dakota Republican, Customs, Custom, China’s Communist Party, Coalition for, Prosperous, National Council of Textile Organizations, National Association of Police, Border Protection, Investments Locations: China, U.S, Shiocton , Wisconsin, Earl Blumenauer of Oregon, Shein, Singapore, Chicago, United States, Prosperous America, Chicago's, New York

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