When Trump won the presidential election, he promised there would be tariffs. On November 25, 2024, we got a clearer picture of what those tariffs will look like. President-elect Donald Trump posted on social media that he would be imposing 25% tariffs on imports from Mexico and Canada on his first day in office. Additionally
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Senate Finance Chairman Wyden Formalizes De Minimis Reform Legislation
By Sibilla Grenon & Ivy Xun on
Senate Finance Chairman Ron Wyden (D-OR) recently introduced a bill that formalizes the legislation he released in August, the Fighting Illicit Goods, Helping Trustworthy Importers, and Netting Gains (FIGHTING) for America Act. The FIGHTING for America Act would remove de minimis treatment for goods impacted by the Generalized System of Preferences (GSP) program, as…