Chinese online retailers Temu and Shein are planning to raise prices due to Trump administration tariffs beginning April 25.

The Trump administration, which already closed a trade loophole that allowed cheap goods from China to avoid tariffs, is now tripling the planned levy. Why it matters: Packages valued at less than $800 have enjoyed the "de minimis" exemption from added duties,

Both fast fashion giants announced on April 16 that U.S. consumers will feel the impact of Trump's tariffs sooner than they thought.