Key Categories Up 30-50%, Kitchen Towels Soar 377%
Contrasts With Trump's Claim That "There Is No Inflation"
Shein, a Chinese e-commerce company that has expanded its market share in the United States with low-priced fashion products, has significantly raised its product prices. For example, the price of kitchen towels surged by 377% in just one day, and the price increases for major categories also reached 30% to 50%.
On April 27 (local time), Bloomberg reported that Shein had sharply raised the prices of most products it sells in the United States, ranging from clothing to kitchenware, over the past weekend. This serves as an indication of the impact the global trade war is having on American consumers.
The price of a set of 10 kitchen towels skyrocketed by 377% in just one day. On April 24, the price was $1.28, but by April 25, it had jumped to $6.10. The average price of the top 100 beauty and health products increased by 51% compared to the previous day, while prices for household goods, kitchenware, and toys rose by more than 30% on average.
Earlier this month, President Trump signed an executive order abolishing the de minimis exemption, which had waived tariffs on imports valued at $800 (about 1.17 million won) or less from China. As a result, starting May 2, all goods valued at $800 or less shipped from China and Hong Kong to the United States will be subject to high tariffs without exception.
According to Bloomberg, as American consumers rushed to buy goods before the tariff hike, sales at Chinese online retailers such as Temu and Shein increased between March and early April. Sales surged across all categories, from makeup brushes to home appliances.
Bloomberg stated, "Shein's price hikes are an attempt by Chinese online retailers to pass on some of the increased export costs to American consumers," and added, "This demonstrates the potential impact of the trade war on U.S. consumers."
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