Micro businesses, as of today are going to have to either pass on big price hikes or close up shop. With the stroke of a pen, Trump has carried out a street robbery on every micro business that is built around the advantages of the duty free De Minimus Exemption. This will deliver a fatal blow to any small business importing goods from China as inputs for their business.
I believe that EVERY business should now be showing a tariff line item to show customers exactly how much they are being extorted by their government.
The De Minimus Exemption was withdrawn at midnight affecting millions of micro businesses. So a package with a value of less than $800 will no longer be exempt from duty and from China will now be subject to a 145% tariff.
Aside from the hit to business, this means that customs will now have to examine millions of extra packages at a time when operational budgets are being slashed. What could possibly go wrong?
This is a direct attack from the U.S. government on the economic model of small businesses.
I’ll let Hayley Pavone explain.
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