Write to letters@thetimes.co.ukSir, The customs service in the US is a passive organisation, and will become less effective thanks to the president’s staff reductions. Big companies have for years undervalued imports into the US to reduce taxes. This can be done in many ways, including third-party invoicing and setting up subsidiary companies to re-invoice imported goods. Over many years I have watched countries increase import taxes to deal with revenue shortfalls, only to be defeated by more under-invoicing by importers. Lawrie MayWorthingSir, I am not an economist and cannot pretend to offer an informed view on President Trump’s tariffs, but the production of ever-cheaper products for mostly western consumption has not been entirely positive.

Source: The Times April 05, 2025 08:03 UTC