Latest news with #US800
West Australian
2 hours ago
- Business
- West Australian
Aussies sending goods to the US to be hit by a tariff rule this month
Australians, e-retailers and businesses exporting items to the US are about to be hit with a new tariff after the Trump administration overturned an exemption on imports valued less than $US800. Australia Post warned on its website that US President Donald Trump's import tariff changes take effect from August 29 and will affect Australians sending items to the States. 'We are actively monitoring for any developments and will continue to provide timely updates as more information becomes available,' the Australia Post notice read. NewsWire understands the new tariff needs to be collected from the country of origin and Australia Post is working to find a solution. An Australia Post spokesman said they were focused on providing a reliable and competitive postal service for customers sending parcels internationally. 'The United States government recently announced significant changes to its import tariff rules that will impact customers sending items from Australia to the US,' a spokesman said. 'Our priority is to keep our customers updated on the changes and what they mean for them.' Items sent to the USA worth less than $US800 have been free from paying any tariffs, but last month President Trump signed an executive order to suspend the duty-free 'de minimus' tariff exemption for low-value shipments from all countries. The change is expected to impact e-retailers around the globe and has already seen some countries suspend shipments to the United States. The order empowers Homeland Security to close a loophole which was used to avoid tariffs and exploited by organised criminals to smuggle drugs into the United States. A Homeland Security spokesman said under the de minimus exemption, countries exploited the system to flood the American market with cheap goods (such as e-commerce retailers Temu and Shein) that undercut American manufacturers and cost jobs. 'Over the past decade the volume of de minimus shipments to the United States exploded, growing from 134 million shipments in 2015 to over 1.36 billion shipments in 2024,' a statement read. 'De minimus shipments accounted for 90 per cent of all cargo seizures in FY 24.' Some European postal services have already paused shipments to the USA following the new tariff rules. Sweden's PostNord said in a statement that the de minimus rule change would considerably impact international postal services and e-retailers. The company halted shipments to the United States and Puerto Rico until a compliant solution was developed and implemented. Australia Post has been contacted for comment.
Perth Now
2 hours ago
- Business
- Perth Now
US tariff rule to hit Aussies exporting goods
Australians, e-retailers and businesses exporting items to the US are about to be hit with a new tariff after the Trump administration overturned an exemption on imports valued less than $US800. Australia Post warned on its website that US President Donald Trump's import tariff changes take effect from August 29 and will affect Australians sending items to the States. 'We are actively monitoring for any developments and will continue to provide timely updates as more information becomes available,' the Australia Post notice read. Australia Post has warned the Trump administration's new tariff rules will affect Australians sending items to the US. Credit: NewsWire NewsWire understands the new tariff needs to be collected from the country of origin and Australia Post is working to find a solution. An Australia Post spokesman said they were focused on providing a reliable and competitive postal service for customers sending parcels internationally. 'The United States government recently announced significant changes to its import tariff rules that will impact customers sending items from Australia to the US,' a spokesman said. 'Our priority is to keep our customers updated on the changes and what they mean for them.' Items sent to the USA worth less than $US800 have been free from paying any tariffs, but last month President Trump signed an executive order to suspend the duty-free 'de minimus' tariff exemption for low-value shipments from all countries. The change is expected to impact e-retailers around the globe and has already seen some countries suspend shipments to the United States. The order empowers Homeland Security to close a loophole which was used to avoid tariffs and exploited by organised criminals to smuggle drugs into the United States. A Homeland Security spokesman said under the de minimus exemption, countries exploited the system to flood the American market with cheap goods (such as e-commerce retailers Temu and Shein) that undercut American manufacturers and cost jobs. Australia Post is working to find a solution to Trump's new tariff rules, while other postal services in Europe have suspended shipments to the US. Supplied Credit: Supplied 'Over the past decade the volume of de minimus shipments to the United States exploded, growing from 134 million shipments in 2015 to over 1.36 billion shipments in 2024,' a statement read. 'De minimus shipments accounted for 90 per cent of all cargo seizures in FY 24.' Some European postal services have already paused shipments to the USA following the new tariff rules. Sweden's PostNord said in a statement that the de minimus rule change would considerably impact international postal services and e-retailers. The company halted shipments to the United States and Puerto Rico until a compliant solution was developed and implemented. Australia Post has been contacted for comment.
AU Financial Review
31-07-2025
- Business
- AU Financial Review
Cettire shares dive after Trump expands duties on cheap imports
The business model of Cettire, a luxury online retailer selling high-end fashion and accessories, is under threat after US President Donald Trump extended the suspension of the duty-free threshold for low-value goods coming into the country. Trump's executive order on Thursday means that shipments worth under $US800 ($1240) will be subject to duties on importation into the United States, regardless of manufacturing origin. Shipments to the United States represent about 40 per cent of Cettire's gross revenues.
Perth Now
31-07-2025
- Business
- Perth Now
Australian shares slide as tariff shockwaves hit copper
The local share market has slipped from near-record levels as copper prices plunge following a surprise US tariff decision. At noon on Thursday the benchmark S&P/ASX200 index was down 22.8 points, or 0.26 per cent, to 8,733.6, while the broader All Ordinaries had fallen 25.5 points, or 0.28 per cent, to 8,990.2. Eight of the ASX's 11 sectors were lower at midday and just three were higher, but the heavyweight mining sector had fallen 2.3 per cent, dragging down the market. Copper prices suffered their biggest one-day loss ever, falling by 20 per cent after the Trump administration said a 50 per cent copper tariff that comes into effect on Friday would only apply to semi-finished products such as copper pipes and wires, and not the sheets of refined copper known as cathode. Traders had bet the tariffs would apply to all refined copper products, creating a race to ship cathode into the US and build huge stockpiles, sending the US price of the red metal significantly higher than global benchmarks. As that trade unwound on Thursday, BHP fell 2.3 per cent and Rio Tinto dropped 2.7 per cent while one of the ASX's biggest copper-focused miners, Sandfire Resources, fell 3.5 per cent. Non-copper miners were also deep in the red, with goldminer Evolution falling 3.6 per cent, lithium miner Pilbara retreating 6.2 per cent and Nickel Industries dropping 2.3 per cent. The tariff news overshadowed a number of other items affecting Australian traders' sentiment, including the Federal Reserve leaving interest rates on hold, better-than-expected domestic retail sales for June and solid earnings from Meta and Microsoft. In the consumer discretionary sector, Cettire was also reeling from US tariffs after President Donald Trump issued an executive order revoking a duty-free exception for low-value imports into the US. Shares in the luxury clothing dropshipper plunged 19.1 per cent per cent to a six-month low of 27.5 cents as Cettire said such imports, with a value below $US800, represented about 40 per cent of its revenue in recent months. Elsewhere in the sector, Flight Centre had fallen close to its lowest level since the pandemic, dropping 8.5 per cent to $11.79, after the online travel agency said it would not meet its already-downgraded profit guidance. The June quarter had been extremely challenging for its leisure business as tourists stayed away from the US and fighting in the Middle East kept travellers close to home, Flight Centre said. In the financial sector, the big four banks were higher, with CBA up 0.2 per cent, Westpac and NAB adding 0.5 per cent and ANZ rising 0.3 per cent. The Australian dollar was buying 64.51 US cents, from 65.12 US cents on Wednesday's ASX close.
Canberra Times
01-07-2025
- Business
- Canberra Times
US Senate passes Trump spending bill, sends to House
An initial version passed with only two votes to spare in May, and several Republicans in that chamber have said they do not support the version that has emerged from the Senate, which the non-partisan Congressional Budget Office estimates will add $US800 billion ($A1.2 trillion) more to the national debt than the House version.
