A Latin term that used to be little-known outside the world of customs brokers has become the stuff of headlines this year. That’s thanks to a decision by US President Donald Trump to close a tariff loophole for “de minimis” merchandise.
The phrase — which loosely translates as “too small to matter” — refers to small packages that are shipped directly to consumers from abroad. Qualifying as de minimis has come with a huge perk: no customs declarations and no tariffs. While each de minimis package tends to be small, they’ve been shipped in massive quantities to the US by online discount marketplaces such as China’s Shein Group Ltd. and Temu.
www.bloomberg.com
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