Shein reports $99 million first-quarter loss following US tariff changes

Fast-fashion platform Shein recorded a $99 million loss during the first quarter, impacted by decelerating sales and preferred share valuation adjustments. The downturn follows the elimination of a US import tax exemption on low-value parcels by President Donald Trump, a policy that previously allowed direct e-commerce deliveries from China to enter without tariffs.

The Singapore-headquartered company cautioned that upcoming trade measures, including potential European Union plans to remove equivalent low-value tariff breaks, pose continuing risks to its business model. Shein disclosed the Q1 performance while preparing for an initial public offering in Hong Kong against a backdrop of volatile trade relations between Washington and Beijing.

Sources: BBC News, Sweden Herald.