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Intro Econ 5: Trade & Santa

Planet Money Summer School

CHAPTER

The Importation of Santa Suits

There is a section of the code, section 9505, that is perfect for Santa suits. This section also includes stuff like party favors and confetti and streamers. So these articles come into the country duty free, no tax. To import this suit, Mark has to pay a 32% tax on the jacket and a 29.2%Tax on the pants. Those come in at 10%. And Mark thinks this whole thing is ridiculous. You know he says it's a Santa suit. Clearly it's a festive article. I mean when else other than Christmas are you going to wear this?

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