“Timo” and “Xi In” announces raising prices in America due to Trump’s customs duties

The e -commerce platforms “Timo” and “Xi In”, which were established by China, announced that they will raise prices for customers in the United States starting next week.
This comes in light of the repercussions caused by US President Donald Trump’s efforts to correct the trade defect between the United States and China by imposing very high customs duties on the goods from China.
The “Timo” platform, owned by the Chinese “PDD Holdings” and “XN”, which is currently based in Singapore, said in two separate but almost identical statements, that their operational expenses have risen “due to recent changes in global trade and customs fees.”
The two companies indicated that they will make “price adjustments” as of April 25, without revealing the size of these increases.
It was not clear why the two competing companies published almost identical data on their sites.
Since entering the American market, “XN” and “Timo” have sparked the concern of Western retailers by offering products at very low prices, as well as extensive digital propaganda campaigns or across the influencers.
The customs duties imposed by Trump by 145% on most Chinese products, in addition to his decision to cancel the customs exemption that allows the entry of goods of less than $ 800 to the United States without fees, a heavy blow to the business models on which the two platforms depend.