Shein And Temu To Hike U.S. Prices Amid Rising Costs From Trump Tariffs, Citing Global Trade Changes

Benzinga

China-based online retailers Shein and Temu will raise prices for U.S. shoppers starting, responding to higher costs from President Donald Trump's tariffs, according to ABC News. Both companies issued identical statements earlier this month, citing "recent changes in global trade rules and tariffs" that have driven up operating expenses. Shein and Temu did not respond to ABC News' inquiries about the timing and extent of their planned price increases. The move comes after Trump closed the "de minimis" loophole on April 2 and hiked tariffs on Chinese goods. Temu is an offshoot of Chinese e-commerce giant Pinduoduo, and Shein is a fast-fashion clothing retailer.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02China-based online retailers Sheet and Timu will raise prices for U.S. shoppers,

00:06responding to higher costs for President Donald Trump's tariffs, according to ABC News.

00:11Both companies issued identical statements earlier this month,

00:14citing recent changes in global trade rules and tariffs that have driven up operating expenses.

00:19Sheet and Timu did not respond to ABC News' inquiries about the timing and extent of their

00:23planned price increases. The move comes after Trump closed the DeMittivis loophole on April 2nd,

00:29and like tariffs on Chinese goods. Timu is an offshoot of Chinese e-commerce giant

00:34Pinduoduo, and Sheet is a fast fashion clothing retailer.

00:37For all things money, visit Benzinga.com slash GSTV.

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