Empty Your Carts! Temu, Shein Hiking Prices This Week Over Tariffs

Temu and Shein shoppers should clear what’s successful their carts earlier Friday, April 25, because nan Chinese retailers are upping their prices successful nan coming days. The famously affordable items will get a value hike, and nan companies opportunity it’s owed to President Donald Trump’s tariffs against China. 

Shein, Temu denote value hikes

In a statement, Shein said, “Thank you for your continued support. Since we began serving U.S. shoppers, our extremity has been simple: to connection awesome manner astatine affordable prices while creating a affirmative effect successful nan communities we serve. Due to caller changes successful world waste and acquisition rules and tariffs, our operating expenses person gone up. To support offering nan products you emotion without compromising connected quality.” 

Temu issued a akin notice to customers, saying successful part. “We’re doing everything we tin to support prices debased and minimize nan effect connected you. Our squad is moving other difficult to amended ratio and enactment existent to our mission: to connection awesome products astatine affordable prices for everyone.”

The e-commerce giants made nan announcement that value increases for customers will return effect April 25.

Trump issues tariffs against Chinese imports

The Trump management imposed steep tariffs connected Chinese imported goods, successful summation to closing a decades-old exemption. In immoderate cases, tariffs connected Chinese imports tin beryllium up to 245%. 

Trump issued an executive bid targeting nan “de minimis” loophole, which allowed businesses to ship products worthy little than $800 into nan U.S. without paying taxes. The White House said travel May 2, nan de minimis taxation exemption will end. 

In early April, nan president put 30% tariffs successful spot for de minimis packages. However, aft China issued retaliatory tariffs against nan U.S., nan White House announced that its tariffs would beryllium raised to 90%. 

U.S. officials said astir 4 cardinal shipments successful 2024 relied connected nan de minimis exemption, accounting for 90% of packages.

Shein and Temu didn’t disclose really overmuch their prices would summation erstwhile making their announcements.