Just hours after Charlie Kirk’s death was confirmed, hundreds of advertisements for memorial merchandise appeared on Facebook and Instagram. In a viral post with more than 8,000 shares and hundreds of thousands of likes, the brand See Jesus In You promoted an “Echo of Freedom” shirt with an American flag and Kirk’s signature, calling him a symbol of “faith, liberty, and America”. The simple shirt, which Kirk was wearing when he was assassinated, has become a hot commodity among his conservative supporters. Another clothing brand, Liberty Faith Gear, struck a…
Tag: E-Commerce
Temu’s UK operation doubles revenues and pre-tax profits
The UK operation of the Chinese online marketplace Temu doubled revenues and pre-tax profits last year, as British consumers snapped up products offered by the super-budget retailer. Temu UK reported revenues of $63.3m (£46.4m) last year, almost double the $32m in 2023, while pre-tax profits similarly surged from $2m to $3.9m, accounts show. However, at an operating level, the company, which files under the name Whaleco UK at Companies House, reported losses widening from $7.9m to $8.7m year-on-year. The company put most of its broadening operating loss down to “exchange…
Trump tariffs: global parcel shipments to US lose exemption
The US tariff exemption for package shipments valued under $800 officially ended on Friday, raising costs and disrupting supply chain models for a range of businesses, with Trump administration officials saying the change would be permanent. There is now a six-month transition period under which postal service shippers can opt to pay a flat duty of $80-$200 per package depending on the country of origin, the officials added. The US Customs and Border Protection (CBP) agency began collecting normal duty rates on all global parcel imports, regardless of value, after…
EU commissioner shocked by dangers of some goods sold by Shein and Temu
The EU justice commissioner has expressed shock at the toxicity and dangers of some goods being sold by Shein and Temu, amid a crackdown on the popular Chinese retail platforms. With 12m low-value parcels each day coming into the EU from online retailers outside the bloc, Michael McGrath has vowed to crack down on the sale of goods that blatantly break the law. He is waiting for the imminent results of an EU-wide secret shopper operation to further test evidence already gathered that Chinese retailers are bypassing EU laws. Among…
Shein turns to Hong Kong for flotation as London attempt stalls, reports say
Shein is reportedly aiming to list on the Hong Kong stock exchange as the online fast-fashion retailer struggles to gain the go-ahead from Chinese regulators for a flotation in London. The company, which was founded in China where the majority of its suppliers are based but now has its headquarters in Singapore, is aiming to file a draft prospectus with Hong Kong’s stock exchange in the coming weeks, according to Reuters. It said Shein plans to go public in the Asian financial hub this year, which would scotch hopes of…
US to cut ‘de minimis’ tariff on goods from China to as low as 30%
The US will cut the “de minimis” tariff for low-value shipments from China to as low as 30%, according to a White House executive order and industry experts, further de-escalating a potentially damaging trade war between the world’s two largest economies. The order published late on Monday offers some relief to big Chinese e-commerce players Shein and Temu and follows a weekend deal between Beijing and Washington to unwind for 90 days most of the tit-for-tat tariffs imposed on each other’s goods since early April. While their joint statement after…
What a Disappearing Tariff Loophole Could Mean for Your Next Online Order
NYT
Chinese e-commerce exports plummet in face of tariffs, despite rise in sales to EU
Exports to the US from Chinese online shops such as Temu and Shein have plunged in the face of Donald Trump’s trade war, as shipping from China to the EU has increased. Official Chinese data showed its total e-commerce shipping dropped 65% by volume in the first three months of the year, but rose 28% in Europe. The sharp fall comes amid reports that the fast-fashion discount platform Shein is considering a restructuring in the US to circumnavigate tariffs. According to the Financial Times, one workaround would be for Shein…
Temu and Shein warn of US price hikes from next week due to Trump tariffs
Two of China’s largest fast fashion retailers, Temu and Shein, have warned US customers that they will face price increases from next week, as Donald Trump’s hefty tariffs on Chinese imports come into force. Both companies will be hit by new import levies, which will mean taxes of up to 145% being applied to Chinese goods. They will also suffer from Trump’s cancellation of the “de minimis” exemption, under which shipments worth less than $800 (£600) could be imported duty-free. That exemption was crucial in helping the low-cost retailers make…
China Condemns U.S. Proposal to Force the Sale of TikTok
China on Wednesday condemned U.S. lawmakers’ push to force the Chinese parent company of TikTok to sell the popular short video platform. In Washington, House lawmakers were expected to vote on a bill later in the day that would require the Chinese internet company ByteDance to cut ties with TikTok or face a nationwide ban. Lawmakers say that Beijing could use TikTok to spread Chinese Communist Party messages or gain access to sensitive data about TikTok’s American users. Beijing rejected concerns that the app was a danger to the United…