Closing the De Minimis Loophole Act

This bill eliminates a duty-free exemption for small shipments under $800, ending the "de minimis" loophole that previously allowed duty-free entry for certain low-value goods. It immediately applies to shipments from China (with a 3-day transition for goods already in transit) and to shipments from other countries 120 days after enactment. The bill requires importers to provide detailed product codes (HTS numbers) for informal entries and mandates new rules to improve duty collection and enforcement. The Treasury Secretary must issue implementing regulations within 120 days to enforce these changes.