EU to Consider Closing Off Duty Exemption That Aids Shein, Temu [BNN Bloomberg (Canada)]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: BNN Bloomberg
The EU currently has a €150 ($161) duty-free threshold for online purchases that's meant for small gifts or personal packages but that has enabled a surge in small-value imports from those platforms, the people, who spoke on condition of anonymity, said. The proposal would aim to stem this flow and would apply to all non-EU e-commerce platforms, they added. The plan was first reported by the Financial Times. Spokespeople for the European Commission didn't immediately reply to a request for comment. While it remains to be seen if there's consensus across member states to take action, the effort adds to the growing momentum of protectionism against Chinese companies as its cheaper goods threaten local producers. This month, the EU will introduce provisional tariffs of as high as 38% on Chinese electric vehicles. In the US, which has a similar duty exemption for low-value personal packages, several bills are before Congress that would close off or lower what's known as the de mi
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