4 ms·
Shein is a plague and Congress is complicit in allowing them to succeed. What happened to being hard on China? Why is it that the U.S. allows Chinese companies
by relyks 3y ago
Shein is a plague and Congress is complicit in allowing them to succeed. What happened to being hard on China? Why is it that the U.S. allows Chinese companies to succeed here, but China doesn't allow companies from here to succeed there?
They skirt around paying import duties and tariffs that equal to around 34% of the value of the goods. The U.S. should be getting more money from them. "Ecommerce companies are exempt from paying tariffs on products with a retail value less than $800, if they are shipped directly to individual customers" (https://www.businessoffashion.com/news/sustainability/shein-and-temu-are-skirting-tariff-costs-us-lawmakers-say/ https://www.businessoffashion.com/news/sustainability/shein-...)
Also, if their IPO prospectus does not include that a change in trade law can affect their business model as a risk, Shein is a fraud.
- ecshafer 3y agoClothing companies are allowed to succeed in China. Brands like Nike sell t-shirts for 10x what they are sold at here in the US. While China doesn't let US firms compete on the internet, they do compete in clothing just fine.
- jgalt212 3y agoWhat the money men want, the money men get.
- jfim 3y agoFrom TFA: > Numerous lawmakers, including 16 Republican attorneys general, have called on the SEC to ensure Shein isn’t using forced labor in its supply chain before it’s allowed to start trading in the U.S.
- m3kw9 3y agoThis stock will have a perpetual big short float just based on them losing that advantage
- adrr 3y agoHow are they shipping to the US so cheaply? I can buy a product for $2 and its ships for free. They must be paying next to nothing for shipping. When i worked for an e-commerce company it was $8 to $10 per order incurred in shipping costs when our volume was millions of orders per month.