Temu and Shein to Pass All Of Trump Tariffs To US Shoppers
Discount Chinese retail Temu appears to be passing on almost all of Donald Trump's new import taxes to US consumers, more than doubling the cost of some products in a move that may add to concern about the inflationary impact of tariffs. And Shein has raised US prices of its products from dresses to kitchenware by as much as 377% ahead of imminent tariffs on small parcels. The supply shock could lead to empty shelves, higher prices, and significant layoffs in industries such as trucking, logistics, and retail, with some economists warning of "Covid-like" shortages. Bloomberg's Poonam Goyal reports. (Source: Bloomberg)
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