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President Trump ended a trade law allowing duty-free imports under $800. This impacts businesses globally, causing supply chain disruptions and price hikes for consumers. Companies like Tapestry and Lululemon face significant financial losses. Smaller online retailers are particularly vulnerable, potentially leading to business closures and higher prices for consumers. Experts predict a $10.9 billion cost to US consumers, disproportionately affecting low-income families. Major retailers like Amazon and Walmart may benefit from this change.

Prepared by Christopher Adams and reviewed by editorial team.