Temu and Shein, two prominent e-commerce platforms founded in China, announced upcoming price increases for U.S. customers effective April 25. This decision is a direct response to rising operating costs linked to President Trump's high import tariffs and the removal of the customs exemption for lower-value goods. Both companies have thrived on low prices but now face challenges from tariffs that could restructure their pricing strategies. The elimination of the 'de minimis provision' is expected to affect millions of parcels entering the U.S., impacting their competitive edge in the market.
"Temu and Shein announced they will raise prices for U.S. customers due to increased operating costs stemming from new tariffs and adjustments in global trade policies."
"Both companies reported that the 145% tariff imposed by Trump and the elimination of customs exemptions have severely impacted their business models, forcing them to make price adjustments."
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