Price hikes are hitting some of the most budget-friendly retailers as a result of President Donald Trump's incoming tariffs.
While there's been an increase in the cost of goods sold on Amazon as a result, two popular fashion retailers are also increasing prices at the cost of consumers—Shein and Temu.
As a result of the new tariffs being imposed, businesses have the option of paying a 120% tariff or a flat $100 fee per postal item, with the flat fee going up to 200% by June 1.
Bloomberg reported that prices lifted by up to 377% for many products, though it ranges from item to item with the data showing that health products were up 51% while clothes only saw a 8% lift. Kitchen appliances and beauty items seemed to see the biggest surge as of now, with kitchen towels going from $1.28 to $6.10. A pair of Temu's running sneakers went from $14 to $27.
Another argued, "No one should be complaining about something going from five dollars to $11 however but we should be worried about is the people that are absolutely making and manufacturing these things cause they're probably getting paid pennies."
Earlier this month, a joint statement from the Chinese companies informed customers: “To keep offering the products you love without compromising on quality, we will be making price adjustments starting April 25, 2025.”
CBS previously reported that Amazon raised prices on nearly 1,000 products, with the average nearly 30%.
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