Sign up to save your podcasts
Or
Share [ROUNDUP]: The End of De Minimis: What does it mean for E-Commerce?
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
[ROUNDUP]: The End of De Minimis: What does it mean for E-Commerce?
Welcome Back Trade Professionals, to another Simply Trade News Round Up! Today's hot topic: De Minimis. On May 2nd, De Minimis will no longer apply to goods imported from china and hong kong. We've invited E-commerce Expert, Marianne Rowden to break down the complexities of what it means for customs, international trade, and YOU -- the consumer.
Main Points/Takeaways:
E-commerce and De Minimis Overview:
- E-commerce represents the "democratization of global trade"
- De minimis allows low-value shipments to enter countries with reduced customs processing
- Historical threshold progression: $1 (1930s) → $5 → $200 → $800 (2016)
Key Changes and Implications:
- As of May 2, significant changes to de minimis rules are happening
- China's low-cost shipments through de minimis will be significantly impacted
- CBP currently processes 4 million de minimis shipments daily (up from 1 million in 2018)
Standout Insights:
- E-commerce flipped traditional trade model by allowing buyers to find sellers easily
- Trade's biggest barrier is complexity of importing/exporting
- COVID-19 dramatically accelerated e-commerce adoption
Notable Quote:
"E-commerce represented the democratization of global trade. It allowed small and medium sized companies to sell their products around the world." - Marianne Rowden
Strategic Considerations:
- Businesses need to understand evolving cross-border shipping regulations
- Cost-benefit analysis of customs processing is needed
- Postal and direct-to-consumer shipping channels are changing
Potential Future Actions:
- CBP likely to issue interim final rule in June/July
- More scrutiny on international low-value shipments expected
#Ecommerce #GlobalTrade #DeMinimis #TradePolicy #InternationalBusiness #CBP #OnlineShopping
Connect with our Expert:
Marianne Rowden
LinkedIn: https://www.linkedin.com/in/marianne-rowden-43456110/
Website: https://www.emtc.org/
Other Articles/Sources Mentioned: Join EMTC's Open Forum on Tariffs
In the midst of all this chaos, education is your best ally. Access Exclusive Resources Here ⏬
Recommended Resources:
Check out these courses we offer here at GTC! 👀🌎
📩Importing https://globaltrainingcenter.com/importing-procedures/
😵💫Tariff Classification https://globaltrainingcenter.com/tariff-classification/
🗺️Country of Origin https://globaltrainingcenter.com/country-of-origin/
👓🧠Surround yourself with other trade professionals: Join our Trade Geeks Community! https://globaltrainingcenter.com/trade-geeks/
Connect with Simply Trade Podcast:
- Subscribe: https://www.youtube.com/channel/UCdmyGU5foKm4aFlpo7Oms4g
- LinkedIn: https://www.linkedin.com/showcase/simply-trade-podcast/
- Twitter: https://twitter.com/SimplyTradePod
- Website: https://globaltrainingcenter.com/simply-trade-podcast/
Connect with Simply Trade Podcast:
- Subscribe: https://www.youtube.com/channel/UCdmyGU5foKm4aFlpo7Oms4g
- LinkedIn: https://www.linkedin.com/showcase/simply-trade-podcast/
- Twitter: https://twitter.com/SimplyTradePod
- Website: https://globaltrainingcenter.com/simply-trade-podcast/
Credits:
Host/Producer: Lalo Solorzano https://www.linkedin.com/in/lalosolorzano/
Co-Producer/Editor: Mara Marquez https://www.linkedin.com/in/maramarquez85/
Host: Annik Sobing https://www.linkedin.com/in/annik-sobing-mba-b226251a2/
Contact Us/ Suggest Topics
Contact: [email protected]
View all episodes
By Global Training Center
4.6
2222 ratings
Welcome Back Trade Professionals, to another Simply Trade News Round Up! Today's hot topic: De Minimis. On May 2nd, De Minimis will no longer apply to goods imported from china and hong kong. We've invited E-commerce Expert, Marianne Rowden to break down the complexities of what it means for customs, international trade, and YOU -- the consumer.
Main Points/Takeaways:
E-commerce and De Minimis Overview:
- E-commerce represents the "democratization of global trade"
- De minimis allows low-value shipments to enter countries with reduced customs processing
- Historical threshold progression: $1 (1930s) → $5 → $200 → $800 (2016)
Key Changes and Implications:
- As of May 2, significant changes to de minimis rules are happening
- China's low-cost shipments through de minimis will be significantly impacted
- CBP currently processes 4 million de minimis shipments daily (up from 1 million in 2018)
Standout Insights:
- E-commerce flipped traditional trade model by allowing buyers to find sellers easily
- Trade's biggest barrier is complexity of importing/exporting
- COVID-19 dramatically accelerated e-commerce adoption
Notable Quote:
"E-commerce represented the democratization of global trade. It allowed small and medium sized companies to sell their products around the world." - Marianne Rowden
Strategic Considerations:
- Businesses need to understand evolving cross-border shipping regulations
- Cost-benefit analysis of customs processing is needed
- Postal and direct-to-consumer shipping channels are changing
Potential Future Actions:
- CBP likely to issue interim final rule in June/July
- More scrutiny on international low-value shipments expected
#Ecommerce #GlobalTrade #DeMinimis #TradePolicy #InternationalBusiness #CBP #OnlineShopping
Connect with our Expert:
Marianne Rowden
LinkedIn: https://www.linkedin.com/in/marianne-rowden-43456110/
Website: https://www.emtc.org/
Other Articles/Sources Mentioned: Join EMTC's Open Forum on Tariffs
In the midst of all this chaos, education is your best ally. Access Exclusive Resources Here ⏬
Recommended Resources:
Check out these courses we offer here at GTC! 👀🌎
📩Importing https://globaltrainingcenter.com/importing-procedures/
😵💫Tariff Classification https://globaltrainingcenter.com/tariff-classification/
🗺️Country of Origin https://globaltrainingcenter.com/country-of-origin/
👓🧠Surround yourself with other trade professionals: Join our Trade Geeks Community! https://globaltrainingcenter.com/trade-geeks/
Connect with Simply Trade Podcast:
- Subscribe: https://www.youtube.com/channel/UCdmyGU5foKm4aFlpo7Oms4g
- LinkedIn: https://www.linkedin.com/showcase/simply-trade-podcast/
- Twitter: https://twitter.com/SimplyTradePod
- Website: https://globaltrainingcenter.com/simply-trade-podcast/
Connect with Simply Trade Podcast:
- Subscribe: https://www.youtube.com/channel/UCdmyGU5foKm4aFlpo7Oms4g
- LinkedIn: https://www.linkedin.com/showcase/simply-trade-podcast/
- Twitter: https://twitter.com/SimplyTradePod
- Website: https://globaltrainingcenter.com/simply-trade-podcast/
Credits:
Host/Producer: Lalo Solorzano https://www.linkedin.com/in/lalosolorzano/
Co-Producer/Editor: Mara Marquez https://www.linkedin.com/in/maramarquez85/
Host: Annik Sobing https://www.linkedin.com/in/annik-sobing-mba-b226251a2/
Contact Us/ Suggest Topics
Contact: [email protected]
More shows like Simply Trade
View all
Hidden Brain
43,547 Listeners
Motley Fool Money
3,230 Listeners
WSJ What’s News
4,398 Listeners
The Mindset Mentor
13,669 Listeners
Global Trade This Week
4 Listeners
The Daily
113,168 Listeners
Up First from NPR
56,921 Listeners
The Trade Guys
152 Listeners
On Purpose with Jay Shetty
27,756 Listeners
Two Minutes in Trade
32 Listeners
Consider This from NPR
6,464 Listeners
The Ezra Klein Show
16,409 Listeners
The Big Take
155 Listeners
The Weekly Show with Jon Stewart
10,990 Listeners
The Tucker Carlson Show
17,042 Listeners