The Biden-Harris administration has called on Congress to pass legislation that would reduce duty-free thresholds for imports into the US and curb alleged abuse by Chinese online retailers. Some analysts fear it could ensnare platforms like Cettire if implemented to the fullest extent.
The White House on Friday said it was targeting “the significant increased abuse of the de minimis exemption”, eyeing Chinese e-commerce platforms. A so-called de minimis exemption allows apparel into the US market without attracting duties if the aggregate fair retail value is $US800 ($1193) or less.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
