Thank you for your letter! Can you describe more how this would specifically impact small businesses?
On paper it sounds good to close a trade loophole but of course the devil is in the details.
Context for folks who had to google this like I did:
The De Minimis Reciprocity Act is a proposed bill in the U.S. Senate that aims to stop China and other countries from exploiting a loophole in U.S. trade laws¹. The bill would prevent imports from China and Russia that have a value of less than $800 from entering the U.S. duty-free and with little customs scrutiny². The bill would also lower the duty-free threshold for other trade partners to match their own policies for U.S. exports³. The bill's sponsors, Senators Bill Cassidy and Tammy Baldwin, argue that the bill would protect U.S. manufacturers from unfair competition, curb the influx of counterfeit goods and illicit drugs, and support reshoring of industry from China⁴⁵.
¹: [Cassidy, Baldwin Introduce Bill to Stop China from Taking Advantage of Lax U.S. Trade Laws](^1^)
²: [Introduced De Minimis Reciprocity Act of 2023](^4^)
³: [De Minimis Reciprocity Act of 2023](^2^)
⁴: [US Senators introduce bill to prevent China exploiting weak US trade laws](^3^)
⁵: [Baldwin, Cassidy Introduce Bill to Stop China from Exploiting Loophole](^5^)
Thank you for your letter! Can you describe more how this would specifically impact small businesses?
On paper it sounds good to close a trade loophole but of course the devil is in the details.
Context for folks who had to google this like I did:
The De Minimis Reciprocity Act is a proposed bill in the U.S. Senate that aims to stop China and other countries from exploiting a loophole in U.S. trade laws¹. The bill would prevent imports from China and Russia that have a value of less than $800 from entering the U.S. duty-free and with little customs scrutiny². The bill would also lower the duty-free threshold for other trade partners to match their own policies for U.S. exports³. The bill's sponsors, Senators Bill Cassidy and Tammy Baldwin, argue that the bill would protect U.S. manufacturers from unfair competition, curb the influx of counterfeit goods and illicit drugs, and support reshoring of industry from China⁴⁵.
¹: [Cassidy, Baldwin Introduce Bill to Stop China from Taking Advantage of Lax U.S. Trade Laws](^1^)
²: [Introduced De Minimis Reciprocity Act of 2023](^4^)
³: [De Minimis Reciprocity Act of 2023](^2^)
⁴: [US Senators introduce bill to prevent China exploiting weak US trade laws](^3^)
⁵: [Baldwin, Cassidy Introduce Bill to Stop China from Exploiting Loophole](^5^)
Source: Conversation with Bing, 2/10/2024
(1) Cassidy, Baldwin Introduce Bill to Stop China from Taking ... - Senate. https://www.cassidy.senate.gov/newsroom/press-releases/cassidy-baldwin-introduce-bill-to-stop-china-from-taking-advantage-of-lax-us-trade-laws/.
(2) S.1969 - De Minimis Reciprocity Act of 2023 - Congress.gov. https://www.congress.gov/bill/118th-congress/senate-bill/1969.
(3) US Senators introduce bill to prevent China exploiting weak US trade laws. https://www.just-style.com/news/us-presses-forward-with-bills-to-stop-china-exploiting-weak-trade-laws/.
(4) United States of America: Introduced De Minimis Reciprocity Act of 2023 .... https://digitalpolicyalert.org/event/12226-introduced-de-minimis-reciprocity-act-of-2023-removing-tariff-exemptions-for-e-commerce-shipments-from-china-s-1969.
(5) Baldwin, Cassidy Introduce Bill to Stop China from Exploiting Loophole .... https://www.baldwin.senate.gov/news/press-releases/baldwin-cassidy-introduce-bill-to-stop-china-from-exploiting-loophole-that-undercuts-us-manufacturers-allows-fentanyl-in-us.
(6) Cassidy, Baldwin Introduce Bill to Stop China from Taking ... - Senate. https://www.cassidy.senate.gov/newsroom/press-releases/cassidy-baldwin-introduce-bill-to-stop-china-from-taking-advantage-of-lax-us-trade-laws/.
(7) United States of America: Introduced De Minimis Reciprocity Act of 2023 .... https://digitalpolicyalert.org/event/12226-introduced-de-minimis-reciprocity-act-of-2023-removing-tariff-exemptions-for-e-commerce-shipments-from-china-s-1969.
(8) S.1969 - De Minimis Reciprocity Act of 2023 - Congress.gov. https://www.congress.gov/bill/118th-congress/senate-bill/1969.
(9) US Senators introduce bill to prevent China exploiting weak US trade laws. https://www.just-style.com/news/us-presses-forward-with-bills-to-stop-china-exploiting-weak-trade-laws/.
(10) Baldwin, Cassidy Introduce Bill to Stop China from Exploiting Loophole .... https://www.baldwin.senate.gov/news/press-releases/baldwin-cassidy-introduce-bill-to-stop-china-from-exploiting-loophole-that-undercuts-us-manufacturers-allows-fentanyl-in-us.