Wyden formally introduces bill to overhaul de minimis

Senate Finance Committee Chair Ron Wyden (D-OR) has introduced a bill to overhaul de minimis procedures, formalizing a legislative proposal he revealed in August that would strip goods subject to trade remedies or deemed to be “import-sensitive” from benefitting from de minimis rules and entering the U.S. duty-free. De minimis rules allow imports worth $800 or less to enter the U.S. without being subject to tariffs or taxes. Congress in 2016 increased the threshold from $200 but has recently looked...