Shein and Temu prices are set to get a lot higher as Biden takes aim at retailers linked to China
Publishing timestamp: 2024-09-13 19:40:45
Summary
Prices on Shein and Temu could rise by as much as 20% if Biden administration successfully closes the "de minimis loophole" that allows packages under $800 to avoid import duties. This could impact their competitive edge and market share, potentially leading to price increases and changes in their business models. The companies have faced scrutiny for their low prices and supply chain practices, with lawmakers calling for reforms to level the playing field for American companies. Shein's plans for a U.S. IPO have been impacted, leading the company to consider listing in London instead.
Sentiment: MIXED
Keywords: business news, breaking news: politics, retail industry, breaking news: business, pdd holdings inc, business, politics,