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 loophole that allowed e-commerce giants like Amazon, Temu and Shein to offer super cheap prices closed after midnight this morning. |
Something called the "de minimis" exemption, allowed packages under $800 to come into the U.S. duty free. That exemption closed at 12:01 a.m. ET May 2. That leaves retailers who previously relied on the quick shipping of cheap items to American consumers reeling. More than half of the packages brought into the U.S. under the exemption come from China, which is currently saddled with 145% tariffs, reports Mary Walrath-Holdridge. | Temu logo is seen in this illustration taken, February 11, 2025. REUTERS/Dado Ruvic/Illustration Dado Ruvic, REUTERS |
Children's safety at risk, consumer advocates say |
Whether you've heard of the U.S. Consumer Product Safety Commission (CPSC) before, or know what it does, consumer advocates say the independent bipartisan agency has had a big impact on the lives of everyday Americans – and especially the safety of children's products. |
Several consumer groups say that safety is threatened because of a proposal by the administration of President Donald Trump to eliminate the agency and put the U.S. Department of Health and Human Services (HHS) in charge of overseeing the safety of more than 15,000 types of consumer products. |
Dirty 'new' shoes for sale? |
Here's a talker: Would you pay $130 for a pair of Nike shoes that look dirty? Nike plans on releasing a pair of sneakers that come out of the box dirty and look cleaner and whiter the more you wear them. |
📰 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. | | The "de minimis" trade loophole that allowed cheap packages to come to the U.S. duty-free is closing. Ecommerce customers are already feeling the sting. | | A proposal to to eliminate the U.S. Product Safety Commission has consumer advocates sounding alarms. We explain why. | | | | Nike announced its releasing pre-dirtied Air Force 1 sneakers on May 7 for $130. | | | | Amazon CEO Andy Jassy said May 1 that the retailer hasn't seen an increase in prices and is optimistic the company can weather the tariff situation. | | | | The Consumer Financial Protection Bureau is seeking to erase a Biden-era rule that would ban the inclusion of medical debt on credit reports. | | | | Delta recently adjusted its luggage policy, requiring bags be checked in at least 45 minutes before domestic flights. See what other airlines require. | | | | Apple's earnings saw growth across most products and a record for service revenue. The company also warned of potential tariff impact. | | | | The FTC announced that Publishers Clearing House has agreed to pay $18.5 million to customers who were "harmed" by the company. | | | | As the busy summer travel season approach, passengers may face unexpected delays when flight crews hit federally mandated duty time limits. | | | | 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. | | | | | |
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