Temu and Shein shoppers should clear what’s in their carts before Friday, April 25, because the Chinese retailers are upping their prices in the coming days. The famously affordable items will get a price hike, and the companies say it’s due to President Donald Trump’s tariffs against China.
Shein, Temu announce price hikes
In a statement, Shein said, “Thank you for your continued support. Since we began serving U.S. shoppers, our goal has been simple: to offer great fashion at affordable prices while creating a positive impact in the communities we serve. Due to recent changes in global trade rules and tariffs, our operating expenses have gone up. To keep offering the products you love without compromising on quality.”
Temu issued a similar notice to customers, saying in part. “We’re doing everything we can to keep prices low and minimize the impact on you. Our team is working extra hard to improve efficiency and stay true to our mission: to offer great products at affordable prices for everyone.”
The e-commerce giants made the announcement that price increases for customers will take effect April 25.
Trump issues tariffs against Chinese imports
The Trump administration imposed steep tariffs on Chinese imported goods, in addition to closing a decades-old exemption. In some cases, tariffs on Chinese imports can be up to 245%.
Trump issued an executive order targeting the “de minimis” loophole, which allowed businesses to ship products worth less than $800 into the U.S. without paying taxes. The White House said come May 2, the de minimis tax exemption will end.
In early April, the president put 30% tariffs in place for de minimis packages. However, after China issued retaliatory tariffs against the U.S., the White House announced that its tariffs would be raised to 90%.
U.S. officials said nearly 4 million shipments in 2024 relied on the de minimis exemption, accounting for 90% of packages.
Shein and Temu didn’t disclose how much their prices would increase when making their announcements.
