Crop-Top Tax Offers a Bit of Relief to Struggling Brazil Retailers [Yahoo! Finance]
Sea Limited American Depositary Shares, each representing one Class A Ordinary Share (SE)
Last sea limited american depositary shares, each representing one class a ordinary share earnings: 3/3 06:30 am
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Source: Yahoo! Finance
(Bloomberg) -- A long-awaited import tax on purchases up to $50 will offer short-term relief to Brazil's battered retailers as they stumble over longer-term hurdles. Most Read from Bloomberg Wells Fargo Fires Over a Dozen for ‘Simulation of Keyboard Activity' Tesla Investors Get Behind Musk's Fight for $56 Billion Pay Deal Apple to ‘Pay' OpenAI for ChatGPT Through Distribution, Not Cash Bump Stock Ban Tossed Out by Supreme Court in Gun-Rights Win Luxury Labels Slash Prices 50% to Lure Wary Chinese Shoppers The bill approved in Brazil's lower house Wednesday, which slaps a 20% levy on low-cost imports, is meant to contain growing competition from Asian fast-fashion players Shein Group Ltd., Sea Ltd.'s Shopee and upstart Chinese app Temu as they expand in Latin America's biggest economy. It will take immediate effect once it receives a presidential signature. It's known in Brazil as the taxação das blusinhas, or crop-top tax, in a nod to the cheaper, cutoff shirts popul
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