By week's end, a reminder that import taxes are also for that small package you're waiting for from across the border.

I'm David Bruncacho. You have about another day to get that small package sent in from another country without a new import tax.

The tariff exemption for the smaller purchases ends on Friday, and the tariffs start.

It's like the duty-free store is closing.

Marketplace's Nancy Marshall-Genzor reports.

The exemption is known as de minimis, a Latin phrase describing something trivial or insignificant.

In this case, it refers to packages worth $800 or less.

The thinking was it wasn't worth trying

to collect import taxes on small packages. But starting Friday, those parcels will be subject to

the tariff for whatever country they're shipped from. Some country's postal services say they'll

suspend deliveries of packages to the U.S. because of confusion over the new rules.

President Trump closed the loophole because he said it was used to send drugs and counterfeit

products to the U.S. Customs and Border Protection says the number of shipments entering

the U.S. claiming the de minimis exemption increased by more than 600 percent over the past 10 years.

The end of the exemption could cause supply disruptions and shortages if small packages pile up at

customs. I'm Nancy Marshall Genser for Marketplace.

Federal Reserve Governor Lisa Cook indicates she plans to sue to stop President Trump from firing her.

By law, America's Central Bank was made independent from the White House and Congress, and any firing would need to be for cause.

So far, proof of that cause has not been provided.

While Cook is on the team that seems set to cut interest rates by perhaps a quarter of a percentage point three weeks from today.

President Trump wants rates cut by three full percentage points.

If the Fed becomes more subject to presidential pressure, this could mean higher inflation and a lower dollar.

...