Forbes Daily: Nations Halt Package Shipment To U.S. As Exemption Expires
The fallout from President Donald Trump’s tariff policies is creating chaos among global postal services.
This week, Mexico, Japan and Australia joined a growing list of countries halting the shipment of packages to the U.S. temporarily due to the elimination of the “de minimis” rule, which allowed items valued at $800 or less to enter the country without paying duties or certain taxes. Lawmakers on both sides of the aisle have attempted to close the loophole, which has in part fueled the rise of Chinese e-commerce platforms like Temu and Shein.
According to the Universal Postal Union, a United Nations agency, 25 of its members have suspended postal shipments to the U.S., expressing concerns about “operational disruption.”
Federal Reserve Governor Lisa Cook sued President Donald Trump over what she described as an “unprecedented and illegal attempt” to fire her from the central bank’s Board of Governors. The lawsuit kicks off a legal battle over how much control the president can exert over the Federal Reserve, and it’s widely expected that the dispute will reach the Supreme Court.
Several fintechs like Betterment and Rocket Money may pass new fees for bank account connection onto their customers, after JPMorgan Chase warned months ago they’d start charging the data aggregators for access to consumers’ accounts. The CEO of fintech startup Monarch Money told Forbes that banks shouldn’t put up barriers to people wanting to monitor their finances. “If the whole industry starts to follow this, I think we are going backwards as a financial ecosystem in this country,” said Val Agostino.
In the latest controversy at the CDC, staffers and former leadership © Forbes
