US EditionChinese e-commerce sites Temu and Shein say they're raising prices due to tariffs
- Temu and Shein plan to raise prices for U.S. customers starting April 25 due to increased operating expenses from tariffs and trade rule changes.
- Both companies cited President Donald Trump's 145% tariff on Chinese goods as a significant factor affecting their business models.
- An executive order signed by Trump will eliminate the de minimis provision for Chinese goods, increasing import taxes starting May 2.
- Both companies have encouraged customers to shop before the price increases take effect, aiming to minimize the impact on their business.
354 Articles
354 Articles
Good morning! Shein's AI-powered business model is threatened by Trump's tariffs, and Taiwan digs its heels in the tech war with Beijing while Nvidia solidifies its presence in China.
Šein and Temu, large online retailers known for extremely low prices, announced that they will raise prices for certain products today after President Donald Trump introduced high tariffs on Chinese goods. It is not yet clear which products will increase in price or by how much, writes Forbes.
The United States and China. The world’s two largest economies have imposed each other’s record tariffs in the midst of an escalating dispute that has shaken global markets, including China’s Shein and Temu platforms.
The Swedish government is behind attempts within the EU to impose tariffs on goods from Chinese e-commerce giants Temu and Shein. Environment and Climate Minister Romina Pourmokhtari (L) believes that, for example, a sweater from the discount giants could cost between 100 and 500 kronor more in the future.
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