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The actual price increase for consumers will depend on many factors such as country-specific tariff rates, duties the U.S. places on goods and manufacturing materials, and how businesses adjust pricing, economists said.
Here's how the end of de minimis would impact some specific consumer goods, according to a FlavorCloud analysis:
Pablo Fajgelbaum, an economics professor at University of California, Los Angeles, and Amit Khandelwal, an economics professor at Yale University, write that de minimis is a "pro-poor trade policy."
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An end to the rule would disproportionately hurt low-income and minority households, which derive more of a financial benefit from the duty exemption than richer households, according to research they published in February.
"Most people [using the de minimis exemption] are people who were living on a budget and are concerned about prices," Lovely said. "I think some people will just buy less."
It's not just consumers: Small businesses will also have to adjust to the new regime, Lovely said.
It puts more pressure on them when tariffs are already raising their costs for goods and manufacturing materials like steel and aluminum, she said.