China’s cross-border e-commerce platforms,Kairaku Jigoku no Toriko (2019) including Temu, Shein, and AliExpress, might face tariff hurdles in the EU, according to the Financial Times, which details that the European Commission is set to propose abolishing the current threshold for duty-free purchases of goods under €150 later this month. The EU’s attempt to close this tax loophole comes as low-value Chinese-manufactured products flood the region, and fast fashion retailer Shein has confidentially filed for a London IPO. The report mentions that 2.3 billion parcels that missed the tax threshold entered the EU, citing official data. [Financial Times]
