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Temu and Shein to Raise Prices Amid Tariff Hike
- Temu and Shein will increase prices for U.S. customers starting next week due to new tariffs.
- The 145% tariff imposed by Trump affects goods shipped from China, impacting their business models.
- Both companies announced price adjustments starting April 25 but did not specify the increase amount.
- The removal of the “de minimis provision” means goods under $800 will no longer be duty-free.
- Temu and Shein are cutting back on U.S. social media advertising as a result of increased costs.
Source: The Independent, Theguardiantheguardian
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