As of Aug. 29, President Donald Trump is ending the so-called de minimis exemption that has applied to more than 4 million parcels flowing through the U.S. each day.
I frequently import used goods from other countries and this has already impacted me. For packages valued below $800, the tariffs I’m expected to pay are between $80 and $200 per package (10-25%).
Now, it’s true that virtually the entire rest of the world levies a VAT on imported goods and that the rates are generally somewhere between the 10-25% we’re now charging on small goods. But those countries also have socialized health care and worker protections, so—what am I as a US citizen getting for the extra tax?
Once I pay import duties on this last overseas package waiting for me, I probably won’t import much if anything. I won’t replace that with domestic consumption (not possible for the types of goods), so all it means is I save some money from less consumption and there’s less economic activity overall.
I frequently import used goods from other countries and this has already impacted me. For packages valued below $800, the tariffs I’m expected to pay are between $80 and $200 per package (10-25%).
Now, it’s true that virtually the entire rest of the world levies a VAT on imported goods and that the rates are generally somewhere between the 10-25% we’re now charging on small goods. But those countries also have socialized health care and worker protections, so—what am I as a US citizen getting for the extra tax?
Once I pay import duties on this last overseas package waiting for me, I probably won’t import much if anything. I won’t replace that with domestic consumption (not possible for the types of goods), so all it means is I save some money from less consumption and there’s less economic activity overall.
My personal spending account is accumulating so much money since I’ll simply do without before paying extra for nothing.
See?!! The Conservatives are “Conserving” the world’s resources by doing this, as people are going to purchase less and less. The irony.