FLASH
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The 47th President of the United States, Donald Trump, has increased tariffs on foreign goods. He has also imposed tariffs on cheap Chinese products sold on the Shein and Temu apps. Trump argued that Chinese shippers could be hiding illegal substances inside the packaging of these cheap products.
Chinese online retailers like Temu and Shein have been able to sell ultra-low-cost items to American consumers, having previously been unthreatened by Trump's tariffs. But it looks like their nightmare is coming to life on Wednesday, as they could be hit hard by the new tariffs.
New tariffs on low-cost goods will be imposed in every country. They will be subject to controls and tariffs like any other goods, such as the 20% tax on Chinese imports.
Starting May 2, shipments under $800 will be subject to a fee of 30% of the value of the postal item or $25 per postal item. On June 1, the fee per postal item will increase to $50.
Trump's order also requires any carrier transporting international postal shipments containing goods from China or Hong Kong to the U.S. to have an international carrier bond to ensure payment of the duty.
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