White House reveals 'Transshipment Scam' costing US up to $26B in suspected China evasion scheme
The White House has exposed a widespread 'Transshipment Scam' that costs the US up to $26 billion annually, with foreign exporters using third countries like China, Panama and Mexico to evade U.S. tariffs.
The White House has released a report exposing a widespread 'Transshipment Scam' that is costing the US up to $26 billion, with foreign exporters routing goods through third countries like China and Panama to evade U.S. tariffs. The scam involves exploiting loopholes in trade regulations to avoid paying duties on imported goods. The report points fingers at China as a major culprit, although other countries such as Panama and Mexico are also implicated. The investigation aims to crack down on this practice and ensure compliance with US trade laws.
