PROSPER WEEKLY

CPA welcomed the Biden administration’s announcement that it will seek to prohibit goods subject to Section 201, 232, and 301 tariffs from entering the U.S. via the de minimis loophole. The administration’s move will substantially curtail the imports of textiles and apparel from China, which is crucial as 18 textile plants have recently closed in the US. Further, the proposal requires the collection of more specific information – at the 10 digit HTS level – and for those claiming the de minimis exemption to be identified.