China-founded e-commerce sites Temu and Shein raising prices due to tariffs

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China-founded e-commerce sites Temu and Shein are planning to raise prices for U.S. customers due to recent changes in global trade rules and tariffs imposed by President Donald Trump. The companies cited increased operating expenses as the reason for the price adjustments, which will take effect on April 25. The move comes in response to the 145% tariff on Chinese goods and the end of a customs exemption for goods worth less than $800. Shein and Temu, known for offering products at low prices, have seen their business models impacted by these changes, leading to a reduction in advertising spending on social media platforms.

Source: https://www.nbcchicago.com/news/national-international/china-founded-temu-shein-raising-prices-tariffs/3724660/