Cut in low-value ‘de minimis’ tariff marks further de-escalation of trade war and will benefit Shein and TemuBusiness live – latest updatesThe US has announced it is cutting the tariff on small parcels sent from mainland China and Hong Kong to the US from 120% to 54%, hours after Washington and Beijing agreed a 90-day pause in their trade war.Donald Trump signed an executive order more than halving the levy, which was brought in at the start of this month to close the “de minimis” loophole allowing low-value goods to be sent to the US without paying any import fees. Continue reading...