Rachel Reeves, the UK Chancellor, is set to review the tax regime for low-value imports to safeguard British retailers against competition from foreign companies. Many retailers, such as Sainsbury's and Next, have raised concerns that the current tax exemption on items valued at £135 or less has been exploited by foreign retailers like Shein and Temu. The review is prompted by increasing fears over 'dumping' by Chinese companies, following similar moves by the US and EU to tighten customs exemptions on low-value imports.
I think that retailers can see, through the actions we've taken today around low-value imports, that we are absolutely standing up for the British high street against the dumping of cheap imports of products that undercut British retailers.
The UK government review was most welcome and shows that the government has listened to the concerns and representations of retailers.
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