Trump tariffs take aim at trade loophole used by Chinese online retailers like Temu and Shein
The PresidentA trade clause that fueled the rapid expansion of low-cost online merchants like Temu and Shein is the target of Donald Trump's threats against China, Canada, and Mexico.
Trump issued executive orders putting tariffs on the top three trading partners of the US on Saturday. A 25% tariff will be applied to items imported from Canada and Mexico, while a 10% tax will be applied to goods imported from China. The tariff on Canadian energy resources will be reduced by 10%.It is anticipated that the duties will go into force on Tuesday.
More from CNBC
Chinese AI app DeepSeek was downloaded by millions. Deleting it might come next
South Korea has a big household debt problem. The country s unique rental system may be to blame
Ontario to remove U.S. alcohol fr...