Shein, Temu to raise prices under pressure from – Business News
Chinese online market Temu and fast-fashion retailer Shein will raise prices on their merchandise subsequent week as President Trump’s crackdown on low-value imports and sweeping tariffs increase bills for the businesses identified for his or her low-priced choices.
In letters to clients this week that mirror one another, each companies stated they are going to be growing prices beginning April 25, and inspired buyers to buy “now at today’s rates.”
“Due to recent changes in global trade rules and tariffs, our operating expenses have gone up. To keep offering the products you love without compromising on quality, we will be making price adjustments starting April 25, 2025,” their statements learn.
Shein and Temu are under pressure from a latest govt order by President Trump that closes the commerce loophole that allowed packages price much less than $800 from China and Hong Kong to enter the U.S. free of duties. WILL OLIVER/EPA-EFE/Shutterstock
Shein and Temu, each of which sell merchandise ranging from toys to smartphones, have grown quickly within the U.S. thanks partly to the “de minimis” exemption enabling them to keep prices low.
However, their business model has come under pressure from a latest govt order signed by President Trump that closes the commerce loophole which allowed packages price much less than $800 from China and Hong Kong to enter the U.S. free of duties. The order goes into impact on May 2.
Temu and Shein didn’t instantly reply to requests for added feedback.
