Earlier this month the Trump administration moved forward with eliminating a loophole that allowed businesses to avoid tariffs if making purchases under $800. Some experts say that the “de minimis” exemption will hit “many, many” small businesses hard.
“The de minimis suspension ending is yet another change that has forced every American small business owner to become an accidental trade policy expert overnight,” Jacob Bennett, CEO and co-founder of small business banking platform Crux Analytics, told Forbes. “There’s this whiplash effect that many, many small business owners are now feeling which is leading to growing uncertainty and concern about how they’re going to continue running their business.”
