The deal is done: Europe to impose tariffs on Shein, AliExpress and Temu

It’s not just electric cars from Chinese companies that will have duty in Europe. The European Union is also working to ensure that Asian trading companies importing products into the territory also have to pay this tax. Financial TimesThis will primarily affect such enterprises as Shein, AliExpress or Temuwho offer products at very low prices, making it difficult for other European businesses to thrive.

While there are no specific details as the European Union has not yet disclosed anything on the matter, it is expected to affect three major online businesses of Asian origin. Tariffs, yes. They will only apply to items shipped from China.and not those who came from Europe, since both AliExpress and Tema have sellers of European origin.

With the new tariffs, Europe could also cancel or modify the “e-commerce VAT package,” which consists of exemptions for customs duties in all these countries. goods worth no more than 150 eurosThe problem is that, according to EU data, over the past year more than 2 billion parcels with a declared value of less than 150 euros were sent to Europe from third countries.

Shein, Aliexpress or Temu will have to pay duties if they want to continue selling in Europe.

The European Union will approve the Digital Markets Act, which will regulate large tech companies such as Meta, Microsoft, Amazon and others.

According to the source, the EU’s intention to impose tariffs on e-commerce, in particular on stores such as Shein, AliExpress or Temu, This will be officially announced at the end of July this month.. However, it will not come into force until next year at the earliest. The process for approving the measure must be followed, and first the new composition of the European Commission after the recent elections must be approved.

It remains to be seen how Europe will apply these tariffs to Chinese businesses, but all indications are that VAT could be imposed on all products.

Aliexpress confirmed to the above mentioned media that “They will cooperate with regulators” when introducing this type of tariff, and Temu claims that the success of his store “is not based only on cheap goods.” Shein, in turn, said Reuters who “fully support the efforts of legislators” on this issue.

Source: Hiper Textual

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I am Garth Carter and I work at Gadget Onus. I have specialized in writing for the Hot News section, focusing on topics that are trending and highly relevant to readers. My passion is to present news stories accurately, in an engaging manner that captures the attention of my audience.

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