Donald Trump says the U.S. Court of International Trade ruled that the president has the authority to abolish "de minimis" exemptions, which could recover $10.8 billion in tariff revenue annually.
Donald Trump posted on Truth Social that the U.S. Court of International Trade ruled today that the President has the authority to abolish the so-called "de minimis exemption." He pointed out that this exemption previously allowed foreign shippers to send packages worth up to $800 to the U.S. duty-free, becoming a huge loophole for tariff fraud, fentanyl smuggling, and counterfeit goods entering the country. Donald Trump estimated that this exemption alone resulted in a loss of approximately $10.8 billion in tariff revenue for the U.S. in 2024. He stated that importers had filed a lawsuit regarding this, but lost today.
Source:特朗普Truth Social · Source Link
Disclaimer: This content reflects only the author’s personal views and does not constitute any investment or financial advice. If you discover any content that violates regulations,Click to Report
24H Trending
-
1
White House: President Donald Trump signed a National Security Presidential Memorandum authorizing federal law enforcement to use cyber tools to combat transnational cybercrime
-
2
Donald Trump Announces “Complete & Total Endorsement” of John Rutherford for Reelection in Florida’s 5th Congressional District
-
3
Cream Finance: Offered a bug bounty to an attacker after a flash loan attack in 2021.
-
4
SpaceX Passes First Lockup Expiry Test With $500 Billion Rally, Easing Wall Street's Concerns Over Potential Flood of Shares After Aug. 6 Expiry
-
5
US tech giants issue massive debt to fund AI, unexpectedly pushing up credit risk for "safest companies" with no AI connection
-
6
Brazil's largest Bitcoin treasury firm OranjeBTC plans Digital Yield ETF (DIGY11) with 95% allocation to Strategy's STRC
-
7
US government debt nears $40 trillion, with this year's deficit projected at $1.887 trillion and interest payments expected to hit $1.1 trillion.
-
8
SK Hynix is investing $720 billion in South Korea to build the world's largest network of memory factories, aiming to meet surging AI demand.
-
9
US Mortgage Rates Mixed on August 13: 30-Year Fixed Falls to 6.58%, 5/1 ARM Drops to 6.31% Amid Continued Volatility
-
10
South Korean court reportedly sentences Delio CEO Jeong Sang-ho to 15 years in prison for defrauding customers of approximately $49.2 million in crypto assets
Markets Today
Recommended Reading



