Biden targets Shein, Temu with new rules to curb alleged 'abuse' of U.S. trade loophole
Publishing timestamp: 2024-09-13 11:00:02
Summary
Biden administration proposes new rule to prevent products subject to U.S.-China tariffs from entering U.S. through de minimis loophole, targeting Chinese-linked online retail giants like Shein and Temu. Lawmakers argue that these companies avoid import duties, allowing them to offer low prices and potentially import products made with slave labor. Biden administration also calls for additional data requirements for de minimis shipments and overhaul of original de minimis rules.
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Keywords: breaking news: politics, business news, retail industry, personal finance, politics, gap inc, united states, breaking news: business,
Source: https://www.cnbc.com/2024/09/13/de-minimis-shein-temu-biden-china-rules.html