President Donald Trump eliminated trade exemptions with China and Hong Kong this week to combat illicit substance imports.
As part of his sweeping executive orders instituting tariffs on various nations this week, the president eliminated exemptions to address deceptive shipping practices from the People’s Republic of China (PRC) and Hong Kong. Recognizing China’s role in the ongoing U.S. opioid crisis, the president suspended duty-free de minimis treatment for shipments valued at $800 or less.
Under “duty-free de minimis,” shipments could enter the United States free of import duties or taxes so long as they were valued at $800 or less. The Trump administration charged that the PRC exploited this exemption by breaking large shipments into smaller pieces for the purpose of concealing illicit substances.
The president announced a sweeping tariff plan on various imports — what he dubbed “Liberation Day.” Breitbart News economics reporter John Carney defended the move to equalize unfair trade practices.
“Consider Europe’s VAT regime. A German automaker exporting a car to the U.S. does so tax-free — thanks to a VAT rebate. An American automaker shipping a car to Europe pays embedded U.S. taxes and a European VAT upon entry. One enjoys a de facto export subsidy. The other faces a tax wall,” he wrote. “The WTO, in its infinite wisdom, allows this disparity and has repeatedly blocked American attempts to address it through legal or tax-code innovations. The Foreign Sales Corporation regime? Illegal. Domestic International Sales Corporations? Illegal. Export tax incentives? Illegal.”
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