Shane said Trump is poised to cut billions of dollars valuations for the expected London listing after President Trump has finished a trade loophole that allowed Chinese first fashion companies to offer ultra-low prices. It is being told.
The e-commerce giant plans to cut its valuation to $50 billion. That's a quarter less than the company's 2023 funding value of $66 billion, three people who know the issue told Reuters.
Shane reportedly aimed to be made public to London early in the year, subject to regulatory approval from the UK and China.
Shein did not immediately respond to requests for comment.
In addition to imposing a 10% tariff in China this week, Trump has ended a long-standing trade rule known as the De Minimis exemption, allowing sellers to ship packages under $800 to US tax exemptions .
Over the past few years, US lawmakers have argued that Shane and Tem had abused the rules.
According to a report from the Congressional Committee, almost half of all packages shipped under the exemption come from China.
Exports from Shein and Temu have risen in recent years, surged from $5.3 billion in 2018 to $66 billion in 2023, according to the report.
The loophole allowed Chinese companies to sell their products at rock bottom prices. Last year, it sucked up major US companies like Amazon.
The end of the De Minimis rule could cause long delays in Shein orders as imports of 1 million people will be subject to customs inspections, experts previously told the Post.
Also, US representatives have allowed Shane and Tem to ship products made from forced labor and products with serious health and hygiene risks, which will help import skirts around customs. .
With post wire
