ALL THE MONEY NEWS YOU NEED TO KNOW | |
Good morning and Happy Friday! This is Betty Lin-Fisher with Friday's consumer-focused edition of The Daily Money. |
A key trade loophole is ending today and that may mean higher prices on low-cost goods from other countries. |
You may have heard of the the "de minimis trade agreement," which was an exemption that applied to items shipped to the United States and valued at $800 or less. President Donald Trump signed an executive order in late July, effectively ending the rule and ending the duty-free program across the board. |
Today's deadline comes a few months after the loophole was closed on May 2 for imports specifically from China and Hong Kong, where low-value retailers like Shein and Temu ship a significant portions of their products from to the U.S. | Items are displayed in a window at a Manhattan retail store on July 15, 2025 in New York City. Spencer Platt, Getty Images |
Will a Fed cut help the U.S. economy? |
Earlier this week, President Trump terminated Fed Governor Lisa Cook, potentially paving the way for his appointees to make up a majority of the Fed's seven-person board of governor's. The move is seen as the latest in the president's efforts to reshape the central bank's makeup as he continues to push for aggressive interest rate cuts. |
Cook is challenging her removal in court. |
Trump has said Fed rate cuts will make a solid U.S. economy even better. Is he right? |
📰 Consumer stories you shouldn't miss 📰 |
Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you. | | A policy that waived import duties for low-cost goods allowed retailers like Shein and Temu to thrive. That policy is ending, here's what it means. | | The pauses are in response to President Donald Trump's decision to end a trade agreement that for years allowed low-value packages to avoid duties. | | | | Economists warn that cutting rates too fast, too soon could spur inflation and drive up mortgage prices. | | | | The New York Times has put one of its popular free games behind a paywall, upsetting many players. | | | | IIHS looked at drivers' experiences with Subaru's driver attention system to combat distracted driving. Many insist the tech be on their next vehicle. | | | | Delicious smoked barbecue chicken is possible without using a smoker. Here's how to make it on your propane grill. | | | | Earlier this month, the Massachusetts-based coffee giant announced their first-ever coffee liqueur. | | | | Flying abroad with your pet? Learn key airline rules, vaccine requirements, and planning tips. | | | | How to parlay a forgotten life insurance policy into money for retirement or to pay for medical needs. | | | | Our app gives you award-winning coverage, crosswords, audio storytelling, eNewspaper and more. | | | | | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | |
