PDD - After Regulatory Hurdles In US Alibaba-Rivals Shein And Temu Face Customs In EU | Benzinga
The European Union (EU) is considering imposing on inexpensive goods bought online through Chinese retailers like Alibaba Group Holding Limited‘s (NASDAQ:BABAF) rivals Shein and PDD Holdings‘ (NASDAQ:PDD) Temu.
What Happened: The European Commission is set to propose the abolition of the current 150 Euro ($161.39) threshold, which allows items to be bought duty-free, Financial Times reported on Wednesday. This proposal primarily targets Chinese online marketplaces Temu and AliExpress, and clothing retailer Shein, according to an official.
In 2023, the EU imported 2.3 billion items below the duty-free threshold, with e-commerce imports more than doubling year on year. The proposed changes would apply to any online retailer shipping to EU customers directly ...