Recent changes in tariffs imposed by the Trump administration are set to hit popular online retailers like Temu and Shein. Reports suggest that prices on these platforms could see an increase of up to 30%, affecting the affordability of their products for consumers. Additionally, Amazon's Haul platform, which offers similar cheap goods from China, is also expected to be impacted by these tariffs.
Will you keep Temu and Shein on your phone? | Image credit – PhoneArena
The impact of these tariffs was initially seen in February when exemptions were scrapped, causing disruptions in shipments from China and Hong Kong. While the exemption was reinstated temporarily, the new duty structure is now in place, with low-value imports facing a 30% tariff or a flat $25 fee, increasing to $50 per item after June 1. Companies like Shein and Temu have benefitted from avoiding these tariffs in the past, but the new regulations are expected to have a significant financial impact on their operations.
