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The Era of Cheap and Plentiful Crap Is Ending
In a move that’s likely to delight those who value quality over quantity, President Trump has announced the end of the “de minimis” trade exemption. This decision marks the beginning of the end for an era characterized by cheap and plentiful consumer goods.
For quite some time now, it has been possible for consumers to purchase items in bulk at discounted prices. The de minimis rule allowed companies to avoid paying duties on goods that cost less than $800 per unit. However, with this change, companies will be required to pay duties regardless of the product’s value.
This shift is likely to have significant implications for the global economy and consumer behavior. No longer will it be possible to find endless supplies of cheap, often low-quality products flooding the market. Instead, businesses will need to adapt by finding new ways to stay competitive in a market where price is no longer the primary driving force.
While this may not seem like an entirely positive development for consumers at first glance, there are many benefits that come with it. For one, it could lead to an increase in innovation and investment as companies look to differentiate themselves from competitors by focusing on quality rather than just being cheap.
Furthermore, the shift away from a culture of disposability will likely have long-term benefits for the environment and waste reduction efforts. The sheer volume of single-use products that have flooded the market has had devastating consequences for our planet’s well-being. By changing this paradigm, we can work towards creating more sustainable consumption habits.
The impact on the job market is another aspect to consider. As companies shift their focus away from cheap mass production and toward quality over quantity, new job opportunities may arise in fields like design, engineering, and manufacturing that prioritize sustainability and craftsmanship.
In conclusion, while change can be unsettling, this development has the potential to usher in a more responsible and sustainable era for consumers and businesses alike.
Source: https://gizmodo.com/the-era-of-cheap-and-plentiful-crap-is-ending-2000584697
