U.S. ends key tariff loophole

(CNN)– The era of cheap imports may be over now that President Trump has ended the Minimis Tax Exemption as of Friday, August 29.

The rule allowed for global goods worth less than $800 to come into the U.S. duty-free, in other words without paying an import tax.

Most goods shipped internationally are now subject to the tariffs of the country of origin.

Those tariff rates affect online sellers such as Amazon, Etsy and Shopify as well as discount retailers like Shein and Temu.