President Donald Trump is certainly known for taking tough action – especially against his economic rival, China.
Not only is his tariff attack on China not enough, which has resulted in a tariff of over 104%, Trump's latest extreme action has shaken the economic world by announcing a new tariff of 90% on small packages from China starting May 2.
Packages worth under $800 that were previously duty-free will now be charged either 90% of the value or a minimum of $75.
More surprisingly, this rate will increase again to $150 after June 1.
This drastic measure has indirectly completely closed the 'loophole' that Shein and Temu used to sell cheap goods directly to US consumers through the international postal system.
Forever 21 is among the brands that have 'fallen', blaming the surge of Shein and Temu as the cause of their downfall.
But for consumers, this may mean that the era of cheap goods from China is coming to an end.
Will ‘Add to Cart’ be replaced by ‘Add to Suffering’ in the future?
Maybe we should rethink and remove some items from the cart!
