Cheap online shopping from China is about to become a thing of the past. Sellers Temu and Shane are raising prices due to the new US customs policy that takes effect in May
Companies Temu and Shane announced that they will increase the prices of their products starting from April 25, as a result of the measures directed by US President Donald Trump, which practically means that these online giants will have higher prices for their products in the future.
Both Temu and Shane state that they will increase prices from April 25 and urge consumers to take advantage of the opportunity to shop at current prices until then.
In a statement to users, the companies said that "due to recent changes in global trade rules and tariffs" their operating costs have increased. In order, as they say, to maintain the quality of products that consumers love, they are forced to adjust prices.
Temu and Shane, who sell everything from toys to smartphones, quickly gained popularity in the American market thanks to the so-called "de minimis" exemption. This allowed them to ship products valued at less than $800 to the US from China and Hong Kong duty-free.
However, the business model of these companies is now being called into question, after US President Donald Trump signed an order revoking the said exemption, with the aim of closing this "trade loophole".
The new regulation enters into force on May 2.
Source: Reuters
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