Shein Joins U.S. Customs Data Pilot for De Minimis Imports [Yahoo! Finance]
Amazon.com, Inc. (AMZN)
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Source: Yahoo! Finance
The Singapore-headquartered company announced Thursday it has been participating in a government program designed to test the practicality of receiving advanced information about incoming low-value shipments. More from Sourcing Journal Shein's IPO: Cashing in on High-Risk Supply Chains in the Name of Ultra-Fast Fashion Ahead of Potential IPO, Shein Presents Forced Labor 'Red Flags' to Investors US Consumers Spending More on TikTok Shop Than Shein U.S. Customs and Border Protection ( CBP ) put the program, called the Section 321 Data Pilot , into action in 2019. Section 321—more colloquially known as de minimis —stipulates that eligible shipments valued at less than $800 can enter the United States without taxes or duties. As of February 2023, CBP estimated that 85 percent of goods entering the U.S. come in under de minimis entry. That figure has grown since 2019, and continues to accelerate. The agency said it created the program as a way to “monitor and protect against
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AMZN
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- 10/31/24 - Beat
AMZN
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