Amazon's Chinese Rivals Temu And Shein Got Hit Hard By Tariffs In This Country, Is It A Sign Of Things To Come Under Trump?

Quick Summary:

What Happened: This tariff, effective Wednesday, targets countries without relevant international treaties with Mexico, reported Nikkei Asia.For imports from the U.S.and Canada, which are part of the U.S.-Mexico-Canada Agreement or USMCA, a 17% tariff will apply to goods priced between $50 and $117.

Mexican authorities have imposed a 19% tariff on goods imported via courier from China, affecting popular online retailers Shein and PDD Holdings Inc.'s (NASDAQ:PDD) Temu, rivals to Amazon.com, Inc.(NASDAQ:AMZN).

Previously, such small package imports were not subject to tariffs, according to Mexico’s Tax Administration Service.See Also: Days ...

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Article Details

Author / Journalist: Ananya Gairola

Category: Technology

Markets: United StatesCanadaChinaMexico

Topics: US0231351067 News Media Tech Government Donald Trump Shein Tariffs PDD Benzinga Regulations Benzinga neuro Claudia sheinbaum Stories That Matter Temu AMZN

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-03 @ 03:35:53 (4 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 374 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © Benzinga

News ID: 24840222

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