Ted Rossman explains the “de minimis” exemption, which ended on Friday, and how it will impact trade. The exemption allowed international orders under $800 to bypass tariffs. He considers it a significant move for businesses and consumers, with many relying on it to keep costs down. It is “upending” the business models of high volume, low price foreign retailers, and many foreign postal services have temporarily stopped shipping to the U.S. in confusion. Ted previews what this could mean for the holiday shopping season, both for bigger retailers and DTC operators.