Here’s how to understand de minimis and how it turbocharged bargain platforms Shein and Temu.

U.S. President Donald Trump this week shut a trade loophole that has been used to ship low-value packages duty-free from China, the "de minimis" exemption on import tariffs. Trump's halt to Section 321 de minimis is part of his implementation of an additional 10% tariff on China and 25% tariffs on Canada and Mexico,

The world’s two largest economies did not cut a deal to avert sweeping U.S. tariffs, which came into effect after midnight. Beijing immediately retaliated.