Trade court upholds Trump's closure of 'de minimis' loophole

A federal trade court upheld President Donald Trump's elimination of the "de minimis" loophole, which allowed low-value goods to be imported to the U.S. tax free. Trump, a major proponent of tariffs and other forms of protectionism, celebrated the continued closure of the exemption, which he claims has cost the U.S. billions of dollars in uncollected tax revenue.