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☆ A new era is coming for dividend stocks — and it's good news for income investors, says portfolio manager
▼ + stars: | 2024-01-12 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Investors seeking income in the stock market have reason to cheer, according to author and portfolio manager Daniel Peris. He's predicting a major paradigm shift in the market as dividends come back in vogue. "Conservative, self-proclaimed dividend investors are going to have access to more companies over time," said Peris, author of the new book, " The Ownership Dividend ." These days, about 80% of S & P 500 stocks pay a dividend. Investing in dividend stocks Still, just because a company offers a dividend doesn't mean it is a good investment.

Persons: Daniel Peris, Peris, Peris doesn't, He'd Organizations: Conservative, Nasdaq, Federated Hermes, Strategic, Google, Big Tech Locations: Silicon Valley, U.S

☆ Lawmakers ramp up scrutiny of Shein, call for proof it doesn't use forced labor after retailer files for IPO
▼ + stars: | 2023-12-05 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Lawmakers are ramping up their scrutiny of Shein after it confidentially filed to go public last week. "Urge the SEC to apply maximum scrutiny to Shein's business and management before letting it anywhere near our capital markets," Luetkemeyer said in the video, viewed by CNBC. They include legislation that would block Shein from trading in the U.S. or bar its shipments from coming into the country. Gallagher is also interested in pursuing reforms to the trade loophole known as the de minimis provision and expanding enforcement of the Uyghur Forced Labor Prevention Act, the aide said. The committee is investigating Shein over its use of forced labor and de minimis — probes that are ongoing, Luetkemeyer said.

Persons: confidentially, Blaine Luetkemeyer, Shein, Luetkemeyer, let's, Mike Gallagher, Gallagher Organizations: U.S . Securities, Exchange, CNBC, SEC, Chinese Communist Party, Uyghur, Labor Locations: U.S

Shein has not determined the size of its offering or the valuation at IPO, the sources said. Shein, Goldman and JPMorgan declined to comment, while Morgan Stanley did not immediately respond to a request for comment. The most valuable China-founded enterprise to go public in the United States so far is ride-hailing giant Didi Global's (92Sy.MU) debut in 2021 at $68 billion valuation. In 2021, the comparable number was $300 billion when the IPO market was close to its peak. Fast fashion retailers have been gaining popularity in the United States, with Shein taking away market share from the likes of Gap (GPS.N) as shoppers look for fresher styles.

Persons: Goldman Sachs, JPMorgan Chase, Morgan Stanley, Shein, Goldman, Didi Global's, Jason Benowitz, David, Dee, Delgado, CSRC, Simon Property, Sumeet Singh, It's, Pritam Biswas, Ananya Mariam Rajesh, Kane Wu, Anirban Sen, Rishabh, Scott Murdoch, Miyoung Kim, Stephen Coates Organizations: Amazon, JPMorgan, Bloomberg, Arm Holdings, Roosevelt, REUTERS, China Securities Regulatory Commission, U.S, Reuters, Securities and Exchange Commission, SPARC Group, Forever, Brands, Simon, Aequitas Research, China's Shanghai Securities, Street, Thomson Locations: United States, China, U.S, Singapore, New York City, Shein, Bengaluru, Hong Kong, New York, Sydney

☆ How China's Shein became a fast-fashion giant
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +3 min

A Shein logo is pictured at the company's office in the central business district of Singapore, October 18, 2022. REUTERS/Chen Lin/File Photo Acquire Licensing RightsNov 28 (Reuters) - China-founded fashion company Shein has confidentially filed to go public in the United States, two sources familiar with the matter told Reuters on Monday. Shein says the approach has helped it consistently achieve average unsold inventory rates in the low single digits. At that valuation, Shein would still trail Uniqlo owner Fast Retailing's (9983.T) $80 billion valuation and Zara owner Inditex's (ITX.MC) $126 billion. Shein moved its headquarters to Singapore from Nanjing, capital of China's eastern Jiangsu province, around late 2021, a shift that analysts said helps the firm circumvent China's tough new rules on overseas listings.

Persons: Chen Lin, Shein, Chris Xu, PDD, Inditex's, Miyoung Kim, Stephen Coates Organizations: REUTERS, Reuters, WHO, Shein, Walmart, Thomson Locations: Singapore, China, United States, Europe, Asia, U.S, Swedish, Zara, Nanjing, China's, Jiangsu

☆ U.S. Retailers Say an Old Trade Law Puts Them at a Disadvantage
▼ + stars: | 2023-11-04 | by ( Jordyn Holman | More About Jordyn Holman | ) www.nytimes.com time to read: +2 min

If it isn’t, they argue, companies may move their warehouses, and the jobs that come with them, outside the United States. In 2022, David’s Bridal said it paid about $20 million in fees to U.S. Customs. Competitors based in China that ship dresses directly to shoppers paid nothing, Mr. Marcum said. In the course of six years, he added, David’s Bridal paid about $100 million in duties that could have been invested in modernizing its business. “You can see the enormity of that — the disadvantage that we’ve had to face,” Mr. Marcum said.

Persons: ”, Shein, ” Jim Marcum, “, David’s, Marcum, ” Mr, Ron Sorini Organizations: Chinese Communist Party, ”, . Customs Locations: United States, China, U.S

The rule, de minimis, exempts packages shipped into the United States from duties and fees if they are worth less than $800. U.S. retailers want that rule changed. Over six years, that amounted to about $100 million in duties that could have been invested in modernizing the business, he added. Temu and Shein most likely account for 30 percent of packages shipped daily under the provision, according to a report from the House Select Committee on the Chinese Communist Party. A Shein spokeswoman said de minimis “is not critical to the success of our business,” and in July, Shein’s executive vice chairman said the company was “eager” to work with lawmakers to help change the rule.

Persons: de, minimis “, David Bridal’s, Jim Marcum, DealBook, Marcum, ” Organizations: Customs, Chinese Communist Party Locations: United States

The bargain shopping app of Shein, which also hosts bricks-and-mortar pop-ups, is raising concerns in the U.S. Photo: Allen J. Schaben/Los Angeles Times/Getty ImagesA law that allows low-price packages to enter the U.S. duty-free and with little customs scrutiny has enabled the breakneck growth of two e-commerce companies with roots in China, Shein and Temu. Packages valued under $800 can enter the U.S. under simplified procedures known as the de minimis exemption. Lawmakers and some U.S. businesses say it is a loophole that the Chinese companies are using at a huge scale, allowing shipments of products that are unsafe or made with forced labor, while avoiding taxes.

Persons: Allen J Organizations: Los Angeles Times Locations: U.S, China

☆ Shein, the fast fashion darling mulling a U.S. IPO, opens up about forced labor, data privacy
▼ + stars: | 2023-10-19 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +16 min

The committee is investigating Shein over concerns that Uyghur forced labor is being used in its supply chain and has gone undetected because of the de minimis provision. The committee has not yet drawn conclusions about forced labor in Shein's supply chain. When asked about claims of forced labor in Shein's supply chain, Claure told CNBC he doesn't "believe those allegations are correct." However, forced labor can still show up in other parts of the supply chain, said Chloe Cranston, the head of thematic advocacy programmes at Anti-Slavery International. In 2022, 11% of audits turned up "zero tolerance violations," including child labor, forced labor and wage violations, and 28 suppliers were terminated as a result, according to the company.

Persons: Elham Ataeiazar, Shein, Donald Tang, Matt Kennedy, they're, they've, Mike Gallagher, Elise Stefanik, Steve Scalise, Chip Somodevilla, we're, Marcelo Claure, Claure, Ralph Lauren, Rupert Hodges, Oritain, Chloe Cranston, Cranston, It's, it's, Shang, Jin Wei, Wei, Austin Knudsen, Chris Xu, Jade Gao, Knudsen, Gary Gensler Organizations: Wall, Bear, Chinese Communist Party, U.S, Renaissance Capital, CNBC, Bloomberg, Nike, Adidas, Republican National Committee, Washington , D.C, D.C, Target, Costco, Visual China, Getty, Workers, Columbia University's, Communist, CCP, Microsoft, AFP, U.S . Securities, Exchange Locations: Bear Stearns, U.S, China, Beijing, Xinjiang, Washington ,, Washington, Singapore, Nanjing, United States, Chinese, Guangzhou, Brazil, Turkey, India, Mexico, Montana

☆ Tempest in a triplex: Trump accused of failing to turn over fraud-trial documents relating to his NY penthouse
▼ + stars: | 2023-10-19 | by ( Laura Italiano | ) www.businessinsider.com time to read: +5 min

A civil fraud trial, at which Trump risks being banned from doing business in NY, is in week three. Evidence 'omissions' include emails to Forbes concerning the worth of Trump's NY penthouse. AdvertisementAdvertisementThe Trump Organization may have failed to turn over fraud-trial evidence relating to the size of Donald Trump's triplex penthouse, New York officials alleged on Thursday, in demanding a new "forensic" search of the company's business records. "In some instances, it's been pulling teeth to get documents," Wallace complained during a hearing in April of last year. But these had not been turned over by the Trump Organization, the letter said.

Persons: —, Donald Trump's, –, Forbes, Letitia James, James, Barbara Jones, Kevin C, Wallace, Arthur Engoron, Trump, week's Forbes, Allen Weisselberg, Weisselberg Organizations: Trump, Forbes, Service, Trump Organization, Trump Org, New York, The Trump Organization Locations: NY, New York, Trump, Manhattan

☆ SEC slaps Citadel Securities LLC with $7 million fine to settle short selling charges
▼ + stars: | 2023-09-22 | by ( Chelsey Cox | ) www.cnbc.com time to read: 1 min

WASHINGTON — The U.S. Securities and Exchange Commission fined Citadel Securities LLC $7 million for settling charges of violating order marking requirements, the commission announced Friday. The SEC estimated that the firm marked millions of certain short sale orders as long sales, and vice versa, between September 2015 and September 2020, according to the commission. The source of the inaccuracies was a coding error in Citadel's automated trading system during this time frame, the SEC found. A Citadel spokesperson told CNBC that the matter "had no impact on the quality of our client execution." "While updating our systems to accommodate certain client requests, we made a coding change that inadvertently affected a de minimis percentage of our order markings," the spokesperson added.

Persons: WASHINGTON Organizations: The U.S . Securities, Exchange Commission, Citadel Securities, SEC, Citadel, CNBC Locations: The

The Citadel Securities logo is seen at their offices in Manhattan, New York City, U.S., October 31, 2022. REUTERS/Andrew Kelly Acquire Licensing RightsSept 22 (Reuters) - The U.S. Securities and Exchange Commission on Friday said Citadel Securities LLC, a Miami-based broker-dealer, had agreed to pay $7 million to settle charges it incorrectly handled millions of orders and violated short-selling rules. The SEC in a statement said Citadel Securities over a five-year period had incorrectly marked millions of orders, denoting short sales as long sales and vice versa. It said those incorrect markings resulted from a coding error in the firm's automated trading system. A Citadel spokesperson said the error was identified and addressed by the firm more than three years ago.

Persons: Andrew Kelly, Mark Cave, Rami Ayyub, Pete Schroeder, Carolina, Kirsten Donovan, Mark Porter Organizations: Citadel Securities, REUTERS, U.S . Securities, Exchange Commission, Citadel Securities LLC, SEC, Citadel, Thomson Locations: Manhattan , New York City, U.S, Miami

☆ Shein shifts shipping strategy to bring China-made goods closer to US shoppers
▼ + stars: | 2023-09-22 | by ( Katherine Masters | ) www.reuters.com time to read: +4 min

The move also marks a strategy shift for Shein, which has traditionally flown goods directly from China to shoppers. Goods eligible for QuickShip are delivered significantly faster than Shein's standard shipping times, which can range from nine to 14 days, according to estimates on its website. Importing high-demand products in bulk helps Shein save money, a person familiar with Shein's strategy said, as ocean shipping is significantly less costly than air freight. Shipping goods by air directly from China is a strategy that helps the e-tailer avoid unsold inventory piling up in warehouses, according to Juozas Kaziukenas, founder of e-commerce analytics firm Marketplace Pulse. Prior to 2020, Shein imported no clothing by ocean freight, according to the ImportGenius data.

Persons: Chen Lin, ImportGenius, Shein, AWEIGH Shein, Juozas Kaziukenas, Katherine Masters, Matthew Lewis Organizations: REUTERS, Reuters, Walmart, UBS, U.S . House, PDD Holdings, Shipping, Thomson Locations: Singapore, China, U.S, Whitestown , Indiana, Shein, Indiana, Cherry Valley , California, York

☆ Muni bonds are cheap, but they may hide a tax surprise. How to prepare
▼ + stars: | 2023-08-23 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

High-income investors, especially those in the 32% marginal federal income tax bracket, appreciate that munis offer income that's exempt from federal levies. Paying for a discount Bond yields and prices move opposite to each other. That means municipal bonds are trading at discounts, which can come with tax ramifications if they're too cheap versus the bond's par value, or the amount the issuer will repay the investor at maturity. Consider an investor who is purchasing a 10-year municipal bond with a par value of $10,000, trading at $9,750. Investors also shouldn't overlook the fact that the muni bond is still providing them with tax-free income in their portfolios.

Persons: Bond, Cooper Howard, Charles Schwab, Tim Steffen, Baird, Steffen Organizations: Federal Reserve, Bond, SEC, Investors

☆ How Temu makes money from super-cheap goods like $10 smartwatches
▼ + stars: | 2023-08-14 | by ( Devan Burris | ) www.cnbc.com time to read: +1 min

Bargain e-commerce company Temu has had a whirlwind 2023. By February 2023, the 5-month-old company made its TV debut during Super Bowl LVII, airing two commercial spots totaling an estimated $14 million. Temu's popularity is largely due to its ultra-cheap knockoffs. On top of the steep discounts, users are bombarded by coupons, free shipping countdowns, flash sales and discount wheels. Temu's rise in popularity has also courted scrutiny from the U.S. government, accusing the website of exploiting de minimis shipping rules to undercut U.S. retailers.

Persons: Temu, Yeezy, Neil Saunders, They're, Pinduoduo Organizations: Walmart, Apple, GlobalData, U.S . Locations: Boston, China, U.S

☆ Focus: Key trade loophole keeps cheap Chinese products flowing to US
▼ + stars: | 2023-08-04 | by ( Katherine Masters | ) www.reuters.com time to read: +6 min

Data from U.S. Customs and Border Protection shows that de minimis shipments into the U.S. rose to 685.5 million in 2022, up nearly 67% over 2018. That equals roughly two to three million packages a day, Robert Silvers, Under Secretary for Policy at the Department of Homeland Security, told lawmakers in July. A bipartisan group of U.S. lawmakers in June introduced bills that would ban de minimis shipments from China upon enactment. Rival U.S. retailers also have grown increasingly concerned about the exemption as Shein and Temu have gained market share. In 2015, Congress raised the cap on de minimis shipments to $800 from $200, making the U.S. threshold one of the highest in the world.

Persons: Dado Ruvic, Shein, Peter Pernot, Robert Silvers, minimis, Jason Smith, Temu, Steve Story, They're, Erik Autor, Katherine Masters, Anna Driver Organizations: REUTERS, PDD Holdings, U.S, Reuters, American Apparel and Footwear Association, de, U.S . Customs, Border Protection, Department of Homeland Security, Republican, Columbia, Apex Logistics International, UPS, FedEx, Barlow & Company, Thomson Locations: China, U.S, Beijing, Mexico, Canada

Goldman Sachs (GS.N), Morgan Stanley (MS.N) and JPMorgan Chase (JPM.N) are among the banks helping Shein with its IPO preparation, according to six of the sources. Didi was delisted from the New York Stock Exchange (NYSE) a year later amid Beijing's crackdown on Chinese technology giants over antitrust and data security rules. Shein officials in Singapore, where the company is headquartered, declined to comment on any IPO plans or on discussions with the investment banks and exchanges. Last week, Reuters reported that Shein had filed its IPO registration confidentially with the U.S. Securities and Exchange Commission. Shein was valued at more than $60 billion in a $2 billion private fundraising round in March.

Persons: Goldman Sachs, Morgan Stanley, JPMorgan Chase, Didi Global's, Didi, Shein, Chris Xu, Kane Wu, Julie Zhu, Greg Roumeliotis Organizations: YORK, Shein, New York Stock Exchange, Nasdaq, JPMorgan, NYSE, Reuters, U.S . Securities, Exchange Commission, SEC, General Atlantic, Tiger Global, Sequoia Capital, Thomson Locations: China, United States, Singapore, U.S, Beijing, Washington , U.S, Ukraine, China's Xinjiang, Xinjiang, Sequoia Capital China, Nanjing, China's, Jiangsu, Hong Kong, New York

☆ Music containing AI-generated elements could win a Grammy as long as a human contributes in 'a meaningful way,' Recording Academy CEO says
▼ + stars: | 2023-07-04 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Music containing AI-generated elements is eligible to win a Grammy, the Recording Academy CEO said. While the award will only be given to "human creators," those artists can use AI in their work. In order to win a Grammy, you need a great song, excellent distribution — and a pulse. "Music that contains AI-created elements is absolutely eligible for entry and for consideration for Grammy nomination. "What's not going to happen is we are not going to give a Grammy or Grammy nomination to the AI portion."

Persons: Harvey Mason Jr, Mason, What's Organizations: Recording Academy, Associated Press, Oxford, Cambridge

The Supreme Court ordered the 3rd Circuit to reconsider the matter. The Supreme Court, with its 6-3 conservative majority, has a track record of expanding religious rights, often siding with Christian plaintiffs. Groff's attorneys had asked the Supreme Court to overturn the Hardison precedent and require companies to show a "significant difficulty or expense" before denying an accommodation. The Postal Service in 2013, in a bid to remain profitable, contracted with Amazon.com to deliver packages, including on Sundays. His absences caused tension among other carriers who had to cover his shifts, the Postal Service said.

Persons: Gerald Groff, Hardison, Groff, Andrew Chung, Will Dunham Organizations: U.S, Supreme, Postal Service, Circuit, Appeals, Civil, VII, Airlines, Amazon.com, Thomson Locations: Pennsylvania, Philadelphia, Pennsylvania's Lancaster, United States, Colorado, Washington

[1/3] A Shein logo is pictured at the company's office in the central business district of Singapore, October 18, 2022. Shein has confidentially submitted its IPO registration with the U.S. Securities and Exchange Commission (SEC), the sources said. In pressing on with its IPO plans, Shein is braving heightened tensions between the United States and China over trade, sensitive technology, human rights and the future of Taiwan. The United States bans exports from Xinjiang for this reason. U.S. lawmakers are also seeking to restrict the "de minimis" tariff exemption widely used by e-commerce retailers such as Shein to send orders from China to the United States.

Persons: Chen Lin, Didi, Shein, Chris Xu, Kane Wu, Julie Zhu, Chizu Nomiyama, Nick Zieminski Organizations: REUTERS, New, U.S . Securities, Exchange Commission, SEC, General Atlantic, Tiger Global, Sequoia Capital, Thomson Locations: Singapore, New York, United States, China, Taiwan, China's Xinjiang, Xinjiang, Sequoia Capital China, U.S, Ukraine, Nanjing, China's, Jiangsu, Hong Kong

It is also looking to hire a lawyer with a specialty in trade compliance to help Temu create a protocol for screening merchandise, another posting showed. The U.S. House Select Committee on the China Communist Party in May launched an investigation into retailers' connections to forced labor in China's Xinjiang region, including any efforts to comply with the Uyghur Forced Labor Prevention Act. The committee last week released preliminary findings stating that Temu "does not have any system to ensure compliance" with the act. Temu's 80,000 "suppliers agree to boilerplate terms and conditions that prohibit the use of forced labor," the report said. Rights groups accuse Beijing of abuses including forced labor and placing 1 million or more Uyghurs - a mainly Muslim ethnic group - in internment camps in Xinjiang.

Persons: Temu, Shein, Arriana McLymore, Jamie Freed Organizations: YORK, PDD Holdings, New Zealand, Reuters, U.S, China Communist Party, Uyghur, Labor, Thomson Locations: U.S, Xinjiang, China, Canada, Australia, New, China's Xinjiang, United States, Xingiang, Beijing, New York

☆ Temu reportedly thinks shoppers should be blamed if they buy goods from the site that were produced by forced labor
▼ + stars: | 2023-06-23 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +3 min

Online retailer Temu relies on its customers to report when products are made with forced labor. Temu prohibits suppliers from using forced labor, but relies on external reporting to enforce that policy. Lawmakers said there is an extremely high risk that Temu's supply chains are contaminated with forced labor. That makes it difficult to know whether the companies are following the Certa Uyghur Forced Labor Prevention Act (UFLPA), which prohibits international imports manufactured by forced labor, particularly in the Xinjiang region of China. The investigation concluded that, "American consumers should know that there is an extremely high risk that Temu's supply chains are contaminated with forced labor."

Persons: —, Temu, hasn't Organizations: Temu, Lawmakers, Service, Chinese Communist Party, Customs, Border, Labor Locations: United States, Xinjiang, China, Xinjiang Autonomous Region, American

☆ Shein and Temu are skirting tariff costs by selling their imported merchandise at super-cheap prices, US lawmakers say
▼ + stars: | 2023-06-22 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +2 min

Shein and Temu sell products that are so cheap the companies avoid paying import tariffs. US lawmakers found that these fast-fashion companies are exempt from tariffs on products under $800. So low, in fact, that the companies don't have to pay tariffs when the products are shipped to the US. Lawmakers highlighted the Certa Uyghur Forced Labor Prevention Act (UFLPA) which prohibits international imports manufactured by forced labor, particularly in the Xinjiang region of China. Temu's code of conduct prohibits suppliers from using forced labor but does not prohibit them from sourcing products based on region.

Persons: —, Temu, Shein Organizations: Service, Chinese Communist Party, Customs, Labor Locations: China, United States, Xinjiang

☆ Retailers Shein and Temu violate U.S. tariff law and evade human rights reviews on imports, House report says
▼ + stars: | 2023-06-22 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

WASHINGTON — A House committee exploring economic competition between the U.S. and China on Thursday released a damning report connecting retail giants Shein and Temu to a disproportionate number of import violations. Lawmakers argue the tariff violations give Temu and Shein unfair advantages over U.S. retailers. Both companies have faced allegations of human rights abuses: Shein for alleged forced labor in its supplier factories in the Uyghur region and Temu for allegedly failing to develop compliance with the Uyghur Forced Labor Prevention Act, the committee reported. Temu and Shein did not immediately respond to a request for comment on the report. Temu has previously said it is "not the importer of record with respect to goods shipped to the United States," and Shein has denied allegations of forced labor.

Persons: WASHINGTON, Shein, Mike Gallagher, Temu Organizations: U.S, Chinese Communist Party, Nike, Adidas, Uyghur, Labor, U.S . Customs, Wisconsin Republican, House CCP Committee Locations: China, U.S, Wisconsin, United States

☆ Congress Spotlights ‘Serious’ Forced Labor Concerns With Chinese Shopping Sites
▼ + stars: | 2023-06-22 | by ( Ana Swanson | Claire Fu | ) www.nytimes.com time to read: +1 min

The number of de minimis packages entering the United States has exploded in recent years, to 720 million in 2021, from 220 million in 2016. Based on data submitted by the companies, the report said that Temu and Shein alone are likely responsible for almost 600,000 packages shipped to the United States daily under the de minimis rule. Among teenagers, Shein was the third most popular e-commerce site behind Amazon and Nike, according to a Piper Sandler report issued this spring. As their popularity has grown, so has congressional scrutiny of the firms given their ties to China. Temu, which is based in Boston, is a subsidiary of PDD Holdings, which moved its headquarters to Ireland from China this year.

Persons: Earl Blumenauer, ”, Shein, Piper Sandler Organizations: United States, Customs, Nike, PDD Holdings Locations: United States, United, China, Oregon, Singapore, Boston, Ireland

☆ Bipartisan Bills Look to Change Import Law Seen as Boon to E-Commerce Companies
▼ + stars: | 2023-06-15 | by ( Jordyn Holman | ) www.nytimes.com time to read: +3 min

Currently, companies importing packages valued under $800 are not charged duties, taxes or fees to the United States government. A bill introduced Thursday looks to bar countries such as China and Russia, which are considered “nonmarket economies,” from being eligible to use this trade law. Some online retailers have financially benefited from the law because they ship small batches of orders directly to shoppers from overseas. Its $11 smock dresses and $6 floral print bikinis are shipped directly to shoppers, allowing it to bypass any import fees. That could lead to more fees at customs as it directs bulks of goods to its warehouses before going to consumers.

Persons: ”, Marco Rubio, Sherrod Brown, Earl Blumenauer, Neal Dunn, ” Mr, Blumenauer, Shein Organizations: United, Customs, Republican, Ohio Democrat, Democrat, Florida Republican Locations: United States, China, Russia, Florida, Ohio, Oregon, U.S

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