Well,Sister this doesn't really seem like what President Donald Trump would've wanted.
Bloomberg reported on Wednesday that Chinese retailers Temu and Shein have seen a big uptick in sales as people in the United States look to beat Trump's tariffs. The outlet added that shoppers, in particular, stocked "products like makeup brushes and home appliances before tariff-led price increases set in."
SEE ALSO: Whatever Trump decides on tariffs, Apple and Tim Cook loseShein reportedly saw a 29 percent increase in revenue in March compared with last year as well as a 38 percent growth through the first 11 days of April. Temu, meanwhile, saw increases of 46 percent and 60 percent, respectively, in the same time period, according to Bloomberg.
This Tweet is currently unavailable. It might be loading or has been removed.
Trump's tariffs have been the source of fear and consternation in the U.S. Prices have already begun to rise as the stock market has taken a steep tumble. It makes sense that folks would attempt to buy items from China ahead of prices getting too high. While Trump may have paused his administration's so-called "reciprocal" tariffs for other nations, China is a major exception. There remains a 145 percent — yes, 145 percent — tariff on Chinese goods. At first, it seemed there may be exceptions for electronics, but Trump has since indicated that may not be the case.
Ngozi Ikonjo Iweala, the World Trade Organization director general, called the "decoupling" of the U.S. and Chinese economies "a phenomenon that is really worrying to me." She said she expected trade to fall between 81 and 91 percent between the two nations. It tracks, then, that folks rushed to Shein and Temu ahead of that fall-off.
Topics Tariffs
One of Android's Easter Eggs is a Flappy Bird
Ryzen 5 2600X vs. 2600: Which should you buy?
The State of Nvidia RTX Ray Tracing: One Year Later
Coinbase breach affected about 70,000 members as company rejects ransom
Best Max streaming deal: Save 20% on annual subscriptions
Wordle today: The answer and hints for May 22, 2025
Best Bluetti AC70 solar generator deal: $329 at Amazon
Add Tabs to File Explorer and Other Applications Ahead of Windows 10's Sets Feature
Amazon Fire TV Stick 4K deal: Get 40% off
Transfer Steam Games to a New Drive Without Redownloading
Nintendo Switch 2 preorder just days away, per leak
Tottenham Hotspur vs. Manchester United 2025 livestream: Watch Europa League final for free
How Screwed is Intel without Hyper
Best robot vacuum deal: Take 50% off the Ecovacs Deebot N30
Nintendo Switch 2 preorder just days away, per leak
How 3D Game Rendering Works, A Deeper Dive: Rasterization and Ray Tracing
The Best Strategy Games on PC
Graphics Card Pricing Update: December 2018
NYT Strands hints, answers for May 5
Coinbase breach affected about 70,000 members as company rejects ransom
'Space Jam: A New Legacy' is a really long ad for Warner Bros.: ReviewDeath and Donald Trump lead Wikipedia's top searches of 2017How to send a text message in ClubhouseGoogle redesigned nearly 1,000 emoji to look more realisticSpotify is down so you can't listen to podcasts while making breakfastElago's AirTag case makes it easy to find your Apple TV Siri RemoteHow to share your screen on Zoom'Mad Men' star Rich Sommer chats about his role on 'The Office'Despised maker of TurboTax tells Americans the 'free' ride is overLyft brings back shared rides for first time since pandemic beganSay hello to the crowded starscape in NASA's new Hubble image shareTesla wants customers to pay a $200 monthly fee for Full SelfTesla wants customers to pay a $200 monthly fee for Full SelfHeartbreaking video of little boy singing in memory of his sister goes viralNetflix's 'Fear Street Part 3: 1666' sticks the landing: ReviewJoe Biden says Facebook is 'killing people' with COVID misinformationHow to send a text message in ClubhouseThe 10 best news apps to stay informed without all the doomscrolling15 timeless tweets to celebrate Twitter's 15th anniversaryGoogle redesigned nearly 1,000 emoji to look more realistic 9 things you need to know about how to behave around assistance dogs The Obamas proudly introduce 'Hamilton' at the Tonys Jimmy Fallon and Stephen Colbert are thirsty for that secret Trump tape Angela Bassett shares a big 'Infinity War' spoiler about her character YouTube is making hashtags more visible — but it’s still missing the point Augur protocol leads to Ethereum Twitter tightens developer policies to fight spam before it starts Watermelon hair is here and it looks pretty darn tasty Chris Hardwick gets to go back to work after an AMC investigation That soccer ball Putin gave Trump may have contained a transmitter chip eBay will begin rolling out Apple Pay this fall 'Guardian' writer Owen Jones walks off Sky News during Orlando discussion Even used iPhone X prices are record Orlando attack is a 'wake Woman casually gets her eyebrows tinted while awaiting her C Report: Huawei plans to beat Samsung to foldable phone in 2019 A buried lake may have been found on Mars. What does it mean for life? 'Where does this stop?' Obama blasts proposed Muslim ban following Orlando attack Photos show Yosemite National Park choked by smoke and fire pollution The English rose is this summer's hottest men's grooming look