Shein slips into loss after introduction of US parcel tariffs

Now that packages can no longer enter the United States without import duties, Shein slipped into the red in the first quarter. Sales are slowing due to the tariffs, while costs are rising, the ultra-fast-fashion giant announced as it prepares to list on the Hong Kong Stock Exchange.

Prices may rise

Shein reported a loss of 99 million US dollars (86.8 million euros), compared to a net profit of 395 million dollars (346.5 million euros) a year earlier. The apparel group attributes the decline to the import tariffs imposed by U.S. President Donald Trump and to the ongoing uncertainty surrounding the tariff dispute between the United States and China.