President Donald Trump has revoked a nearly century-old tax loophole that saved companies from paying tens of billions of dollars in fees on imports. Prices on such orders could now go up an average of 30 percent.

The president’s tariffs against China, Mexico and Canada eliminated a trade exemption used by low-cost retailers.

President Donald Trump’s sweeping tariff threats have been touch and go. As it stands currently, the 25 percent tax on goods from Mexico and Canada is on ice for a month, but a 10 percent tariff on Chinese goods is set to take effect on Tuesday, via an executive order of questionable legality.