EU Set to Impose Tariffs on Temu and Shein Goods from China

World » EU | July 8, 2024, Monday // 15:24
Bulgaria: EU Set to Impose Tariffs on Temu and Shein Goods from China

The European Commission is reportedly gearing up to impose tariffs on inexpensive goods originating from China, as reported by the Financial Times, citing insider sources.

Under current regulations, items valued below 150 euros can enter the EU from non-EU countries duty-free. Goods exceeding this threshold are subject to varying tariff rates depending on their category.

Major e-commerce platforms such as Temu, Shein, and AliExpress are expected to bear the brunt of these impending tariffs.

The initiative aims to tackle the influx of low-cost products from China, which poses quality and safety concerns. Last year, the EU imported a staggering 2.3 billion items valued below the 150-euro threshold.

China held the top position as the EU's largest external goods supplier in the past year, accounting for 20.5% of all incoming imports.

Proposed as part of a broader customs reform introduced in May 2023, discussions within the Commission have centered on eliminating the duty-free privilege for such goods.

Notably, these tariffs will specifically target retailers, sparing European-based sellers like Amazon from direct impact.

While the move is intended to address quality and safety issues associated with imported goods, concerns have arisen over potential strain on customs operations and the prospect of higher consumer prices.

The European Commission has yet to officially announce its decision on this matter, which continues to provoke debate across economic and regulatory circles.

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Tags: EU, temu, Shein, China

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