(Reuters) – The Chinese online market and the fast fashion retailer Shein will increase the prices of their products next week, since President Trump’s energetic measures against low -value imports and the wide tariffs increase the expenses of the companies known for their low -priced offers.
In letters to their customers this week that are very similar to each other, both companies said that prices will increase from April 25 and encouraged buyers to buy “now at today’s prices.”
Due to the recent changes in world trade standards and tariffs, our operational expenses have increased. To continue offering the products that you like so much without compromising the quality, we will adjust the prices as of April 25, 2025, as read in your communiqués.
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Shein and Temu, who sell products that range from toys to smartphones, have grown rapidly in the United States thanks in part to the exemption ”of Minimis” that allows them to maintain low prices.
However, its business model has been pressed by a recent executive order signed by President Trump, which closes the legal lagoon that allowed the entrance to the United States of packages with a value of less than $ 800 from China and Hong Kong without paying tariffs. The order enters into force on May 2.
Temu and Shein did not immediately respond to additional comments requests.
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