Back to today’s briefing

Story perspectives

Trump Halts De Minimis Change Amid New Tariffs

2/7/2025

49 5

Left

Trump Delays Tariff Changes

President Trump has hit the brakes on eliminating the de minimis exemption for packages valued under $800, easing the burden of confusion and steep fees for consumers and businesses alike. While the 10% tariff on Chinese imports stays in place, Trump is set to unveil new tariffs on other countries next week, adding another layer of complexity to global trade.

Right

Trump Postpones Tariffs

President Trump has postponed the imposition of 25% tariffs on Canada and Mexico for an additional month, responding to looming threats of retaliatory measures. Experts caution that if these tariffs take effect, they could drastically inflate consumer prices on essentials like food, energy, and cars, potentially pushing the consumer price index up by over 4% and straining household budgets.

History

Historical Context

President Trump's recent tariff decisions echo the historical protectionist policies of the early 20th century, notably the Smoot-Hawley Tariff of 1930. That legislation aimed to protect American industries but led to retaliatory tariffs, deepening the Great Depression. Current tariffs risk similar economic repercussions, complicating trade relations with Canada and Mexico.

1 of 3

Trump Delays Tariff Changes

President Trump has hit the brakes on eliminating the de minimis exemption for packages valued under $800, easing the burden of confusion and steep fees for consumers and businesses alike. While the 10% tariff on Chinese imports stays in place, Trump is set to unveil new tariffs on other countries next week, adding another layer of complexity to global trade.

1 / 3