All That Cheap Chinese Stuff Is Now Europe’s Problem

President Trump’s closure of the de minimis customs loophole in May — which previously allowed Chinese packages valued under $800 to enter the U.S. duty-free — has redirected a flood of cheap goods toward Europe, where similar exemptions for packages under $175.8 in the EU and $180 in the UK remain intact.

The shift has been swift: exports of low-value Chinese packages to the U.S. have dropped more than 40% since May, according to Chinese customs data, and the EU has this…