Eliminating the de minimis exemption for imports from China or for all clothing imports would do nothing to change any of this, but it would impose a big regressive tax increase on American households.Congress should consider alternative approaches, such as eliminating tariffs on the 79 percent of clothing Americans import from countries other than China. Tariffs on those imports currently average 12.7 percent, providing an incentive for consumers to buy low-value clothing from China.Cutting tariffs to reduce clothing prices and to encourage families to purchase from sources other than China is a no-brainer.
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42 sats \ 0 replies \ @justin_shocknet 26 Aug
Import tariffs increase domestic production wages by an equivalent amount, wages that generally go to the the class in question, and where all classes pay the import tariff it is therefore a progressive tax. It's also a usage based tax as imports incur expeditionary defense costs.
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