According to CNBC, Chinese e-commerce platform Temu has started adding import charges of about 145% in response to President Donald Trump’s sweeping new tariffs. Temu's new import fees often exceed the cost of individual products and can more than double the price of an order. Temu’s new import fees undermine the low-price appeal that drove its rapid U.S. growth since 2022, when consumers overlooked long shipping times for steep discounts on clothing, electronics, and home goods.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Chinese e-commerce platform Timu has started adding import charges of about 145%
00:07in response to President Donald Trump sweeping new tariffs, according to CNBC.
00:12Timu's new import fees often exceed the cost of individual products
00:15and can more than double the price of your order.
00:18Timu's new import fees undermine the low price appeal that drove their rapid growth since 2022,
00:25with consumers overlooking long shipping times for steep discounts on clothing,
00:29electronics, and home goods.
00:31For all things money, visit Benzinga.com slash GSTV.