President Donald Trump has imposed new tariffs targeting a longstanding tariff exemption for small packages under $800. This “de minimis” exemption previously allowed goods below that threshold to enter the U.S. duty-free, benefiting Chinese e-commerce platforms like Temu and Shein. The new rules eliminate this advantage, potentially impacting Shein’s upcoming IPO and the business models of major Chinese e-commerce players. PDD Holdings’ Temu has begun shifting to bulk shipments and expanding U.S. warehouses to adapt. E-commerce and small durable goods stocks fell in Asian trading following Trump’s actions.
