The European Union (EU) will now impose customs duties on low-cost items purchased from Chinese internet merchants such as Temu, Shein, and AliExpress. Currently, goods purchased from non-European Union nations are free from duty, provided their total cost is less than 150 euros ($161).
PEOPLE ALSO CHECK ABOUT
The EU acquired 2 billion packages worth just over 150 euros in 2023 alone, creating a demand for customs resources. The 150-euro duty-free threshold will shortly be proposed for removal by the European Commission to control the large amount of low-cost imports better.
This concept may be expedited to address the spike in imports, but it was first included in a customs reform action that was brought forward in May 2023. While Alibaba, Temu, and the EU restrained from commenting right away, Shein has stated that it supports the reform measures.
PEOPLE ALSO CHECK ABOUT
US Critics claim that Shein and Temu Undercut competitors by making use of import tax exemptions to avoid custom audits. The EU is taking these steps to guarantee more effective customs procedures and fair competition.
