Two Minutes in Trade – How Informal and Formal Entry Was Restored for Goods Valued Under $2,500

Use of the Sec. 321 de minimis exemption was eliminated for imports from China and Hong Kong on Friday, May 2nd. However, de minimis is still (technically) available for imports of under $800 by one person on one day from all other countries.  Although it is unclear how long this will last, given the administration’s intent to close that option as soon as “adequate systems” are in place.  For more information, listen to today's Two Minutes in Trade.