NEW YORK -- The United States will end tariff exemptions for low-cost shipments from China and Hong Kong on May 2, U.S. President Donald Trump announced on Wednesday, taking aim at the de minimis policy that has become popular among e-commerce companies.
The decision was part of a package of trade policy changes including sweeping tariffs of up to 49% on trade partners the Trump administration accuses of "unfair trade practices." The broad moves are expected to escalate a trade war and reshaping global commerce.
