- cross-posted to:
- news@lemmy.world
- business@lemmy.world
- cross-posted to:
- news@lemmy.world
- business@lemmy.world
Rapid growth of Temu and Shein threatens US businesses and consumers, Biden says.
Archived version: https://web.archive.org/web/20240913222431/https://arstechnica.com/tech-policy/2024/09/biden-moves-to-crack-down-on-shein-and-temu-slow-shipments-into-us/
Free market countries when free markets enter their house:
How braindead do you have to be to call Temu a “free market?” They exploit a loophole in the tax code to undercut competitors, and in so doing use way more packaging materials and expend significantly more energy per item in trans-oceanic transportation than typical bulk trade does
Read the article. This is targeting companies that abuse an exemption to dodge taxes.
Neither the US nor China are truly free markets. They both play with taxes, tariffs, and subsidies to affect commerce both international and domestic.