Starting on Aug. 29, the Trump Administration will impose tariffs on shipments under $800, which were previously exempt under a de minimis exemption. This change will raise the price of countless everyday goods—from soccer balls to stocking stuffers. And its impact will be felt most acutely by low-income Americans. Some commentators view the de minimis exemption as a loophole that should be closed because it allows millions of cheap goods to flow into the U.S. tariff-free. But in practice, this

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