The "de-minimis" tariff rate is now 54%. Here's what that means for e-commerce.

The "de minimis" tariff rate on low-value parcels from China will come down to 54% from 120%, the White House said in an executive order Monday, after reaching an agreement with Beijing over the weekend. 

The so-called de minimis package loophole had long allowed Chinese e-commerce firms to ship low-value goods to U.S.-based customers duty-free.

 In February, President Trump moved to eliminate the low-value parcel exemption by imposing a 120% tax, or a flat fee of $100 on packages. When the exemption was eliminated on May 2, tariffs of up to 145% became applicable to packages from China worth $800 or less.