Eden Prairie CEO welcomes end to 'unfair' trade rule

EDEN PRAIRIE, Minn. (FOX 9) - The executive of an Eden Prairie-based outdoor retailer said he welcomes President Trump’s decision to eliminate what some see as an unfair trade loophole.  

CEO says trade rule change levels 'unfair playing field'

The backstory:

President Trump on Wednesday announced sweeping changes to United States trade policy, including nixing a rule that some see as an unfair loophole.

What the rule is:

The rule exempts low-cost imports from tariffs. The rule will no longer apply to China, where shipments from online retailers Temu and Shein originate.

Why some think it's unfair:

Some view the exemption as an unfair tool that foreign companies have against American companies.

What they're saying:

"It creates an opportunity for other entities – non-U.S.-based entities – to compete with you on a price that you can’t accommodate...." said Mission Outdoor CEO Corey Uchtman. "Tariffs can actually bring some of those things back, create manufacturing facilities that we then as an organization that designs things can go source and manufacture here locally...."

China exported $66 billion in low-cost items to U.S. in 2023, report finds

By the numbers:

China exported $66 billion worth of low-cost packages to the United States in 2023, a dramatic increase from the $5.3 billion it exported in 2018, according to a report from the Congressional Research Service. Many of the shipments came from Temu and Shein.

What's next:

The executive order rescinding the exemption for China takes effect on May 2.