Steve's News

A notice to customers dazzled by the low-priced products on Chinese shopping apps: the days of getting trendy clothing, tools and gag gifts that cost less than lunch delivered to your door in 10 days are probably numbered. President Tweety McTreason is ending a little-known but widely used exemption that has allowed as many as 4 million low-value parcels — most of them originating in China — to arrive in the U.S. every day tax-free. An executive order the president signed Wednesday will eliminate the “de minimis provision” for goods from China and Hong Kong on May 2. The tax exemption, which applies to packages valued at $800 or less, has helped China-founded e-commerce companies like Shein and Temu to thrive while cutting into the U.S. retail market. “Shoppers had a full array of product and options of timing,” Marshal Cohen, chief retail advisor at market research firm Circana, said. “Now, they’re going to have a limited array of options and timing: so you can still buy this product, but you may have to wait three or four weeks.” U.S. politicians, law enforcement agencies and business groups have described the long-standing policy as a trade loophole that gave inexpensive Chinese goods an advantage and served as a portal for illicit drugs and counterfeits to enter the country. The sweeping tariffs Trump announced on Wednesday also aim to end the duty-free exception for all imported goods worth less than $800, but only when the U.S. government has the personnel in place to process parcels from every country. What will be the effect on prices and shipping times? A White House fact sheet said small packages of Chinese products sent through the international postal network will be subject to a duty rate of either 30% of their value or $25 per item, an amount that will increase to $50 per item after June 1. Commercial carriers such as FedEx and UPS will be required to report shipment

At least six people have been killed in a wide swath of violent storms and tornadoes that hit the South and Midwest, and officials are bracing for more severe weather and flooding in the coming days. The destruction is part of a potent storm system that the National Weather Service said will bring “significant, life-threatening flash flooding” each day through Saturday. What happened? The first wave of storms killed at least four people in western Tennessee and one each in Missouri and Indiana on Wednesday and Thursday. Also in Indiana, emergency crews spent several hours rescuing a woman from a collapsed warehouse. There was massive destruction in Lake City in eastern Arkansas, where homes were flattened and cars were flipped and tossed into trees. State authorities reported damage in 22 counties due to tornadoes, wind gusts, hail and flash flooding. Seven injuries were reported, but no deaths. More than 90 million people were at risk of severe weather across an area stretching from Texas to Minnesota and Maine, according to the Oklahoma-based Storm Prediction Center. What’s causing this wave of storms? Forecasters attributed the violent weather to warm temperatures, an unstable atmosphere, strong wind shear and abundant moisture streaming from the Gulf. The prolonged deluge, which could dump more than a foot (30 centimeters) of rain over a four-day period, “is an event that happens once in a generation to once in a lifetime,” the National Weather Service said. What’s next? The national Weather Prediction Center in Maryland said satellite images early Thursday morning indicated that “catastrophic” flooding could soon occur in Arkansas, Tennessee and Kentucky. “Communities in the region should prepare for possible long duration and severe disruptions to daily life,” it said. Private forecasting company AccuWeather said it was concerned about “major disruptions” to business, the supply chain and shipping due to the flooding and severe weather. Shipping giant FedEx, for example, has a massive facility in the danger area, in Memphis Tennessee.