What’s the De Minimis Tariff Loophole Trump Closed?: QuickTake

A Latin term that used to be little-known outside the world of customs brokers has become the stuff of headlines. That’s thanks to a decision by US President Donald Trump to close a tariff loophole for “de minimis” merchandise from mainland China and Hong Kong from May 2.

The phrase — which loosely translates as “too small to matter” — refers to small packages that are shipped directly to consumers from abroad, usually bypassing warehouses and distribution hubs. Qualifying as de minimis has, until now, come with a huge perk: no customs declarations and no tariffs. While each de minimis ...