Global markets are rallying on optimism over Washington and Beijing reaching a major, if temporary, détente in their tariff fight.

As a U.S. tax loophole ends, the apparel makers that sell to America are forced to consider alternative markets or cheaper locations in and outside China.

For Meta, Alphabet and other platforms, the elimination of the tariff exemption for inexpensive goods is already cutting into advertising revenue.

E-commerce trade in small parcels brought Chinese factories to American shoppers. Tariffs are severing the connection.

The move comes as President Trump’s tariffs are reducing shipping volumes and is in addition to 12,000 job cuts last year.

Companies like Alibaba that built China’s world-leading online shopping sector are now helping its sellers find markets beyond the United States.

An Illinois couple who sell party supplies on Amazon have been frantically trying to understand and adapt to new costs caused by President Trump’s tariffs.