EU plan to impose import duty on cheap goods could dent Shein and Temu
Brussels move to end tax loophole exploited by China-linked marketplaces could also dent Shein’s planned London listingThe EU is moving forward with plans to impose customs duty on cheap goods in a shift that could hit imports from online retailers and harm a hoped-for London listing by the fast-fashion seller Shein.The potential change comes amid growing disquiet among retailers based in mainland Europe, the UK and the US about rising competition from Chinese-linked marketplaces Shein and Temu, which exploit a loophole that excludes low-value items from import duty. Continue reading...
Brussels move to end tax loophole exploited by China-linked marketplaces could also dent Shein’s planned London listing
The EU is moving forward with plans to impose customs duty on cheap goods in a shift that could hit imports from online retailers and harm a hoped-for London listing by the fast-fashion seller Shein.
The potential change comes amid growing disquiet among retailers based in mainland Europe, the UK and the US about rising competition from Chinese-linked marketplaces Shein and Temu, which exploit a loophole that excludes low-value items from import duty. Continue reading...
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