Biden Targets Cheaper Chinese Imports

This is a China news story, published by Yahoo Finance, that relates primarily to Temu news.

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more Chinese imports

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America's trade war is coming for Gen Z's favorites

Summary

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Biden administration is taking steps to make more Chinese imports subject to import fees.

The Biden administration wants to reduce the "abuse" of a trade law that has allowed the goods of many companies, including popular Chinese e-commerce companies Shein and Temu , to avoid taxes and tariffs.

If the proposal goes into effect, a $ 40 Shein or Temu purchase, for example, could become roughly $50 once the new import fees are added.

Shein and Temu could reduce their direct-to-consumer shipments from China and bring more of their inventory to warehouses in the US for distribution.

Both companies have said de minimis exemption is not key to their success.

Smaller businesses and startups could also be affected by the proposal.

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semi-formal

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English

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