With President Trump’s crackdown on low-value imports and sweeping tariffs raising the operational costs of their low-priced products, Chinese online marketplace Temu and fast-fashion retailer Shein plan to increase their products’ prices from next week.
Both the firms plan to raise the prices of their products from April 25, 2025. Hence, they have urged shoppers to purchase their desired products at today’s rates
Retailers of products ranging from fasion, toys to smartphones, both Shein and Temu experienced a rapid growth in the US market owning to the ‘de minimis’ exemption, which enabled to keep their prices low.
However, a recent executive order by US President Donald Trump eliminates the earlier trade benefit of allowing them to import products from China and Hong Kong duty free into the United States. The order is likely to be implemented from May 2, 2025.
