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Why Trump's repeal of a trade loophole will hurt low-income and minority Americans

  Copy link into your clipboard //media-entertainment.news-articles.net/content/ .. will-hurt-low-income-and-minority-americans.html
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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
By Helen Reid, Arriana McLymore and Lisa Baertlein LONDON/NEW YORK/LOS ANGELES (Reuters) - Prices will rise for Americans who buy $5 shirts, $10 lamps and $20 shoes on direct-from-China shopping sites like Shein and Temu after U.
The article from MSN discusses the implications of former President Donald Trump's decision to repeal a trade loophole known as the de minimis rule, which allowed for duty-free imports of goods valued under $800. This change, if implemented, would significantly impact low-income and minority communities in the U.S. The rule primarily benefited consumers by reducing costs on imported goods, particularly from countries like China, where many affordable products are sourced. Critics argue that its repeal would lead to higher prices for everyday items, disproportionately affecting those with less disposable income. Additionally, small businesses that rely on these imports for their inventory would face increased costs, potentially stifling entrepreneurship among minority groups. The article highlights that while the intention might be to protect American manufacturing, the broader economic effects could be detrimental to the very communities that need economic relief the most.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/companies/why-trump-s-repeal-of-a-trade-loophole-will-hurt-low-income-and-minority-americans/ar-AA1yx9db ]