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- Shein drastically raises prices in response to tariffs: report (foxbusiness.com)
Shein Hikes Prices for US Customers Due to Impending Tariff Changes
Fast-fashion giant Shein has announced price increases across a wide range of products for its US customers, effective Friday. This comes as the company prepares for the imminent end of duty-free exemptions on goods imported from China and Hong Kong.
The price hikes impact various categories, including women’s clothing, home and kitchen items, toys, and beauty and health products. Bloomberg reports that the average price of the top 100 women’s clothing items has increased by 8%, while health and beauty products have seen a staggering 51% surge. Some individual items have experienced even more dramatic increases, with a 10-piece kitchen towel set jumping 377% and a meat shredding tool climbing 152%.
Shein attributed the price adjustments to rising operating expenses resulting from recent changes in global trade rules and tariffs. Earlier this month, the company warned consumers of impending price increases via a statement on its website.
The increased costs are tied to former President Trump’s executive order eliminating the “de minimis” exemption for goods valued under $800 imported from China and Hong Kong. This exemption is set to expire on May 2nd. The removal of the exemption means these goods will be subject to a 120% duty or a per-item fee starting at $100 and increasing to $200 a month later.
This move further escalates trade tensions between the US and China, which have been strained by recent tariff increases. Former President Trump previously raised levies on Chinese goods to 145%, prompting China to retaliate by increasing its own tariffs on US goods to 125%.
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- Shein drastically raises prices in response to tariffs: report (foxbusiness.com)