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Zanny Minton-Beddoes

๐Ÿ‘ค Speaker
398 total appearances

Appearances Over Time

Podcast Appearances

Fresh Air
Confused By The U.S. Economy? You're Not Alone

So, yes, it's extraordinarily complicated and confusing.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

And the other thing is that the U.S.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

has now recently got rid of what's called the de minimis provision.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

And the de minimis provision meant that any imports of a small amount โ€“ and I think it was up to $800 โ€“ were tariff-free.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

And those big Chinese consumer companies like Shein that were the ways in which people could buy very cheap clothes from China โ€“

Fresh Air
Confused By The U.S. Economy? You're Not Alone

very cheap.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

Yeah, I'm not passing judgment on whether they were a good idea or not.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

But they came in through this de minimis arrangement.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

And now lots of small importers, kind of mom and pop stores that import goods from China and then sell them on, they can no longer bring their goods in through that provision.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

And so the impact is at the very least confusing.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

But I think you're right.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

It's a kind of bureaucratic nightmare.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

And there are quite a lot of countries and companies that are simply no longer willing to provide

Fresh Air
Confused By The U.S. Economy? You're Not Alone

courier services or packaging services to the United States because it's just too complicated to do the administration of the tariffs.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

You're right.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

The broad tariffs have been put into place under this emergency, so-called emergency... Economic powers act.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

Exactly.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

And that is being challenged and it's going all the way to the Supreme Court.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

And I don't think it's at all clear which way the Supreme Court will rule.

Fresh Air
Confused By The U.S. Economy? You're Not Alone

And we've developed, my colleagues, a scoter spot, which is a