Section 321 of the Tariff Act of 1930 – also known as the de minimis rule – is a legal loophole that allows single shipments not exceeding US$800 in value per individual or company within a 24-hour period to enter the US tariff free. Photo: Reuters

China-based firms look to obscure tariff loophole to dodge trade war, but US customs is cracking down

  • An arcane piece of trade law has caught the eye of exporters looking to avoid Donald Trump’s tariffs on goods valued at less than US$800 each
  • But US customs is looking into manipulation of Section 321, also know as the ‘de minimis’ rule, which can only be used within strict parameters
Topic |   US-China trade war

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Section 321 of the Tariff Act of 1930 – also known as the de minimis rule – is a legal loophole that allows single shipments not exceeding US$800 in value per individual or company within a 24-hour period to enter the US tariff free. Photo: Reuters
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The foreign ministers of China, Japan and South Korea gathered for trilateral talks in Beijing on Wednesday. Photo: Kyodo

South Korea’s economy facing ‘perfect storm’ as Japan trade dispute continues and exports plunge

  • South Korea’s exports for the first 20 days of August fell 13 per cent from a year earlier, pointing to a ninth successive monthly decline
  • Semiconductor sales fell 30 per cent, while exports to China fell 20 per cent, suggesting joint headwinds of global electronics slowdown and US-China trade war
Topic |   Trade

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The foreign ministers of China, Japan and South Korea gathered for trilateral talks in Beijing on Wednesday. Photo: Kyodo
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