Latin Terms and When To Commit
Send us Fan Mail
Key Terms and Etymology
De Minimis: This Latin phrase, from "de minimis non curat lex" meaning "the law does not concern itself with trifles," refers to a threshold value in tariff law. Goods imported into the US below a certain dollar amount (e.g., $800) are considered trivial and not subject to tariffs, while those above are.
Ad Valorem: Also Latin, meaning "according to the value," this term describes a tariff or tax that is a percentage of the value of goods, similar to a sales tax. An item can be subject to both de minimis rules and ad valorem tariffs.
Language Usage…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.