Shein and Temu just started raising prices ahead of new tariffs
CNN
“Cheap goods” sold on Temu and Shein aren’t as cheap as they were 24 hours ago.
“Cheap goods” sold on Temu and Shein aren’t as cheap as they were 24 hours ago. On Friday, the two companies raised prices on many goods in advance of 120% tariffs set to take effect next week. The companies had informed shoppers of the coming price hikes last week. American customers of Temu and Shein, which source most of their products from China, have largely been able to avoid paying tariffs due to an exemption on shipments of goods worth less than $800. That exemption, known as “de minimis,” is expiring on May 2, the result of an executive order President Donald Trump signed earlier this month. Two patio chairs listed on Temu and reviewed by CNN had a $61.72 price tag on Thursday. By Friday, they were listed at $70.17. On Shein, CNN noted a bathing suit set cost $4.39 on Thursday; on Friday it cost $8.39, a 91% increase. The price increases, however, weren’t consistent across the board for the basket of goods CNN tracked. In fact, a smart ring sold on Temu was about $3 cheaper on Friday than it was on Thursday. Prices fluctuate normally online so it’s not possible to know why certain prices rose and others didn’t.
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