Retailers, including Currys chief executive Alex Baldock, have signalled worries about goods being switched from the US to Europe through companies such as Amazon, Shein and Temu.
The concerns followed the imposition of hefty tariffs on China by US President Donald Trump, which may prompt factories in China to send products to Europe through the platforms, the Financial Times reported.
Currys chief executive Alex Baldock told the newspaper that early signs had been detected of “stock being diverted into European markets in a straightforward dumping way”.
Baldock said: “The single biggest area where lots of stock is likely to land in the UK — at least in my world — is from the likes of Shein, Temu, Alibaba, TikTok Shop and, most of all, Amazon marketplace.”
Buy It Direct chief executive Nick Glynne said: “The long-term threat with the tariff crisis is… the mass movement of Chinese factories selling directly to consumers either via marketplaces such as Temu and eBay or websites such as Shein. The numbers are already huge and all that’s going to happen is that it will accelerate, accelerate and accelerate.”
The retailers also highlighted concern over potential safety issues on some products as well as perceived “tax dodging’” by some Chinese factories selling through online marketplaces.
Baldock said: “The US has now closed the import duty loophole for low-value imports and the EU is following fast. It’s all the more vital the UK isn’t left behind, so we’re not the only ones flooded with unsafe and tax-dodging products.”
Separately, it has emerged that smartphones, computers and some other electrical goods will be exempt from Trump’s tariffs, including the higher rate imposed on China.
No comments yet