China-based online retailers Shein and Temu will raise prices for U.S. shoppers starting, responding to higher costs from President Donald Trump's tariffs, according to ABC News. Both companies issued identical statements earlier this month, citing "recent changes in global trade rules and tariffs" that have driven up operating expenses. Shein and Temu did not respond to ABC News' inquiries about the timing and extent of their planned price increases. The move comes after Trump closed the "de minimis" loophole on April 2 and hiked tariffs on Chinese goods. Temu is an offshoot of Chinese e-commerce giant Pinduoduo, and Shein is a fast-fashion clothing retailer.
