💨 Abstract

China-based e-commerce sites Temu and Shein plan to raise prices for US customers starting next week due to increased operating expenses and tariffs imposed by President Trump. The price adjustments are a result of Trump's efforts to correct the trade imbalance between the US and China. Both companies, which have given Western retailers competition with their low prices and aggressive advertising, claim to be taking steps to minimize the impact on customers.

Courtesy: wtop.com

Summarized by Einstein Beta 🤖