The US is ending a duty-free exemption for imports under $800, impacting small businesses and online shoppers. This change, implemented earlier than expected, means increased import taxes on small packages from all countries, not just China and Hong Kong. Many countries are temporarily halting US-bound shipments due to the new rules. While the government aims to reduce reliance on foreign goods, small US businesses that import products face higher costs and potential closure. The change affects various sectors, including clothing boutiques and online retailers, leading to price hikes or business shutdowns.

Prepared by Christopher Adams and reviewed by editorial team.