EU to Impose New Tariffs on Cheap Imports from Temu and Shein

The European Union is set to impose new tariffs on low-value goods imported from Asian e-commerce giants such as Temu and Shein. The move, reported by the Financial Times, aims to address concerns about unfair competition and tax evasion. Under the proposed plan, each item shipped directly to consumers will face a €2 tariff, while goods sent to warehouses will incur a €0.50 fee. "This is a necessary step to protect European businesses and ensure a fair marketplace," said a spokesperson for the European Commission. The new tariffs are expected to lead to higher prices for consumers, but the EU insists the measures are essential to level the playing field for European retailers and improve tax collection. The impact on consumers remains to be seen, but the EU's commitment to fair competition is clear.