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GOBankingRates
GOBankingRates
Vance Cariaga

Trump Closed a Tariff Loophole That Was Saving You Thousands — 4 Things You Need To Know

Andrew Leyden / ZUMA Press Wire

A rule that allowed for duty-free imports of inexpensive packages recently came to an end, raising concerns that it could lead to higher prices for U.S. consumers.

In late August, President Donald Trump closed the “de minimis exception” loophole that let U.S. consumers buy inexpensive foreign items without having to pay tariffs or fill out complicated customs paperwork, The New York Times reported.

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