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On May 2, local time, the United States officially terminated the tax exemption policy for small parcels from China. According to foreign media reports, some e-commerce platforms have had to reorganize their logistics systems, with some product prices rising by more than double, and users generally complaining about shipping latency. Additionally, some foreign brands have stopped shipping to the United States, and some small and medium-sized enterprises have even chosen to exit the U.S. market.
The Wall Street Journal revealed that a certain footwear brand in the U.S. is transferring its inventory from Canada to local warehouses in the U.S. because a pair of China-made sports shoes, originally priced at $175, would incur over $300 in taxes if shipped through Canada.
Experts have pointed out that canceling the tax exemption policy for small packages seems to be a tough stance against China, but in reality, it is increasing taxes for American consumers: "This means higher prices, slower logistics, and consumers are footing the bill for this policy."
Comment: This is not good for the crypto space! How big is the impact? Share your thoughts!
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