Connect with us

News

Biden Administration Targets Shein and Temu in Crackdown on Trade Loophole Abuse

Published

on

US-President-Joe-Biden
Biden Administration Targets Shein and Temu in Crackdown on Trade Loophole Abuse

The Biden administration unveiled a series of measures on Friday aimed at curbing the “overuse and abuse” of the de minimis trade loophole, which allows low-value shipments to enter the U.S. without import duties or extensive scrutiny. A new proposed rule would block shipments subject to U.S.-China tariffs from using this exemption, a move that directly impacts Chinese e-commerce giants like Shein and Temu.

The de minimis loophole permits packages valued at less than $800 to bypass import fees and has seen a dramatic rise in usage, growing from 140 million to over a billion shipments in the last decade, according to White House estimates. The surge has been largely driven by companies like Shein and Temu, which ship low-cost clothing and household goods from China to U.S. consumers.

Officials argue that the increased volume of such shipments has made it harder to regulate and block unsafe or illegal imports. “The drastic increase in de minimis shipments has made it increasingly difficult to target and block illegal or unsafe shipments,” said Daleep Singh, deputy national security advisor for international economics.

Advertisement

The proposed rule would particularly affect products subject to tariffs under Section 301, Section 201, and Section 232, which apply to many Chinese imports, especially textiles. According to Singh, this change could significantly reduce the number of Chinese shipments using the de minimis exemption, impacting around 70% of textile and apparel imports from China.

Additionally, the administration plans to implement stricter reporting requirements for these shipments, including the need for more detailed data like tariff classification numbers. The White House also urged Congress to pass legislation to further overhaul the de minimis rules.

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Jury Orders Bill Cosby to Pay $19m in Decades-Old Assault Case

Published

on

Jury Orders Bill Cosby to Pay $19m in Decades-Old Assault Case

A jury in California has ordered Bill Cosby to pay $19.25m (£14.3m) in damages to a former waitress after finding he drugged and sexually assaulted her in 1972.

The plaintiff, Donna Motsinger, told the court that Cosby gave her wine and a pill—believed to be aspirin—that left her incapacitated after picking her up in a limousine to attend one of his shows. She said she drifted in and out of consciousness, recalling only flashes of light before later waking up at home partially clothed and realising she had been assaulted.

Cosby, now 88, has consistently denied Motsinger’s allegations, as well as similar claims made by numerous women over the years in both civil and criminal proceedings. His legal team indicated that he plans to appeal the verdict.

Advertisement

The case was heard in Santa Monica, where jurors ruled in favour of Motsinger and awarded compensatory damages, with the possibility of additional punitive damages still to be determined.

Motsinger, now 84, had worked at the Trident restaurant in Sausalito, a popular venue frequented by celebrities during the 1970s. According to court filings, Cosby invited her to one of his performances and allegedly administered the drug during the journey.

Cosby’s defence argued that Motsinger could not definitively recall what happened and challenged the credibility of her claims. His lawyer, Jennifer Bonjean, told US media that the ruling would be contested on appeal.

Advertisement

The case adds to a long list of legal battles that have defined Cosby’s later years. Once widely celebrated for his role in The Cosby Show, his legacy has been overshadowed by allegations of sexual misconduct dating back decades.

In 2021, Cosby was released from prison in Pennsylvania after serving nearly three years of a sentence for sexual assault, when his conviction was overturned on a legal technicality. He has maintained that all encounters were consensual.

Advertisement
Continue Reading

News

Thousands Evacuated as Hawaii Faces Worst Flooding in 20 Years

Published

on

Thousands Evacuated as Hawaii Faces Worst Flooding in 20 Years

Thousands of residents across Hawaii have been forced to evacuate their homes as the islands endure their most severe flooding in decades, following a second powerful storm in just one week.

Authorities say the damage could exceed $1bn (£745m), according to Rick Blangiardi, mayor of Honolulu. More than 230 people have already been rescued, with emergency services continuing operations as heavy rainfall persisted into early Saturday.

Officials have raised alarms over a dam on Oahu—the state’s most populous island—warning it is at risk of collapse. Residents have been urged to take the situation seriously and follow evacuation guidance.

Advertisement

At a press briefing, Josh Green confirmed there had been no reported fatalities so far, while commending emergency responders for their ongoing efforts.

Floodwaters have surged through communities, lifting homes and vehicles, and prompting evacuation orders affecting approximately 5,500 people north of Honolulu. Multiple roads across the islands have been shut down due to hazardous conditions.

The Honolulu Department of Emergency Management has issued repeated flash flood warnings, advising residents to seek higher ground and avoid entering flooded areas.

Advertisement

Flood alerts have also been extended to other islands, including Maui, Molokai, and Hawaii Island.

Governor Green warned the storm would have “serious consequences” for the state, citing widespread damage to critical infrastructure such as airports, schools, roads, hospitals, and residential properties.

The extreme weather is being driven by a Kona Low—a slow-moving low-pressure system that pulls in warm, moisture-laden air, leading to prolonged heavy rainfall and flash flooding across the Hawaiian islands.

Advertisement

Continue Reading

News

Gas prices in UK and Europe soar after strikes on energy facilities in Qatar and Iran

Published

on

Gas prices in UK and Europe soar after strikes on energy facilities in Qatar and Iran

Gas prices across the UK and Europe surged sharply following escalating military strikes on key energy infrastructure in the Middle East, raising fresh concerns about global supply stability and economic ripple effects.

In early trading on Thursday, gas prices jumped by more than 25% before easing slightly later in the day. Despite the pullback, prices remain more than double their levels prior to the outbreak of hostilities involving Iran, the United States, and Israel, according to market analysts.

The spike follows a series of direct attacks on major gas facilities. Iran launched strikes on the Ras Laffan gas plant in Qatar, reportedly causing extensive damage. The move was described as retaliation after Israel targeted Iran’s South Pars gas field, a critical offshore energy site shared between Iran and Qatar.

Advertisement

The escalation has widened across the region. In the United Arab Emirates, both the Habshan gas facility and the Bab oil field have been shut down after sustaining damage from Iranian strikes. Meanwhile, Saudi Arabia said it successfully intercepted attempted attacks in its eastern region and in the capital, Riyadh, preventing further disruption.

Amid the growing crisis, Donald Trump stated that the United States had no prior knowledge of Israel’s strike on the South Pars field. He also issued a warning to Iran against carrying out additional attacks on Qatar, signaling the risk of further geopolitical escalation.

Military exchanges between Iran and Israel have continued, with the Israeli military reporting incoming fire from Iran. While emergency services have not confirmed new casualties, tensions remain high following Israel’s announcement that it had begun air strikes on targets in northern Iran—marking a significant expansion of its operations.

Advertisement

A critical flashpoint now centers on the Strait of Hormuz, one of the world’s most vital energy transit routes. Iranian lawmakers are reportedly considering imposing tolls on countries transporting goods through the strait. The waterway handles roughly 20% of global energy supplies, but shipping activity has effectively halted after Iran threatened to target vessels passing through.

Despite the volatility, analysts note that energy markets are beginning to adjust to the rapidly evolving situation. However, the ongoing disruptions—and the strategic importance of the affected infrastructure—suggest that prices could remain elevated in the near term, even as diplomatic efforts intensify to stabilize the region.

Advertisement
Continue Reading

Trending