By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Viral Trending contentViral Trending content
  • Home
  • World News
  • Politics
  • Sports
  • Celebrity
  • Business
  • Crypto
  • Gaming News
  • Tech News
  • Travel
Reading: France considers €2 fast-fashion import tax affecting Shein and Temu as EU drags its feet
Notification Show More
Viral Trending contentViral Trending content
  • Home
  • Categories
    • World News
    • Politics
    • Sports
    • Celebrity
    • Business
    • Crypto
    • Tech News
    • Gaming News
    • Travel
  • Bookmarks
© 2024 All Rights reserved | Powered by Viraltrendingcontent
Viral Trending content > Blog > Business > France considers €2 fast-fashion import tax affecting Shein and Temu as EU drags its feet
Business

France considers €2 fast-fashion import tax affecting Shein and Temu as EU drags its feet

By admin 3 Min Read
Share
SHARE

The French parliament will be debating a €2 levy on low-value fashion imports this week, aiming to jump-start a similar measure that will only come into force EU-wide in 2028.

The move is an attempt to target Chinese budget e-commerce retailers like Shein and Temu, who have swamped the bloc with super cheap products that undercut local production, while also causing concerns about waste production due to their questionable durability and short life cycles.

The European Commission estimated that a torrent of deliveries, most of them from China, entered the bloc in 2024.

“Around 4.6 billion low-value consignments, ie goods with a value not exceeding €150, entered the EU market equalling to 12 million parcels per day … raising numerous concerns,” the Commission report stated.

The EU executive has also said these products undercut European production standards, often contain counterfeit goods and have a “negative environmental and climate footprint”.

The French parliament is considering going one step further, adding an additional €5 environmental footprint levy, which could rise to €10 per package by 2030.

The initial French €2 levy could face its first vote next Monday.

Below €150, customs duties are generally not charged for goods imported into the EU but VAT still applies.

The French government forecasts that the levy on small parcels could raise €500 million by the end of next year.

The law instituting the €2 levy has passed the initial Senate vote, and is now facing final parliamentary approval.

In a speech on 29 April before the rollout of the bill, French Budget Minister Amélie de Montchalin insisted that this proposal is “in anticipation of the reform of the (EU) Customs Union in 2028”.

It would “advocate for the rapid introduction of an administrative fee mechanism on every small package entering Europe,” de Montchalin explained at the time.

“This is not a tax on consumers. It is a way to make those who currently benefit from a system without assuming their responsibilities pay their fair share,” she concluded.

You Might Also Like

A man used AI to call 3,000 Irish bartenders to track the cost of Guinness. Now pubs are lowering their prices to compete

G7 pledges to take ‘all necessary measures’ to safeguard energy market amid war in Iran

Why Coal India's arm CMPDI could be a buy even after 7% IPO debut crash today

Investors are rushing to buy these before the Stocks and Shares ISA deadline. Should we join in?

The Houston Comets are back: Connecticut Sun sold to Rockets owner for record $300 million

TAGGED: Business News
Share This Article
Facebook Twitter Copy Link
Previous Article Brian Daboll Fired as Giants Head Coach After 4 Seasons, GM Joe Schoen to Remain
Next Article Popular JavaScript library expr-eval vulnerable to RCE flaw
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

- Advertisement -
Ad image

Latest News

World Of Warcraft‘s First Official LGBTQ Pride Event Discovered By Dataminers
Gaming News
Travelling to Spain for Easter? Flight disruption as airport staff call ‘indefinite’ strikes
Travel
A man used AI to call 3,000 Irish bartenders to track the cost of Guinness. Now pubs are lowering their prices to compete
Business
Bitcoin tests $68K as Trump says the US looking to end Iran operation
Crypto
Quantum computing company IQM to fuel R&D with €50m investment
Tech News
G7 pledges to take ‘all necessary measures’ to safeguard energy market amid war in Iran
Business
Outrage is not enough: what actually builds peace
World News

About Us

Welcome to Viraltrendingcontent, your go-to source for the latest updates on world news, politics, sports, celebrity, tech, travel, gaming, crypto news, and business news. We are dedicated to providing you with accurate, timely, and engaging content from around the globe.

Quick Links

  • Home
  • World News
  • Politics
  • Celebrity
  • Business
  • Home
  • World News
  • Politics
  • Sports
  • Celebrity
  • Business
  • Crypto
  • Gaming News
  • Tech News
  • Travel
  • Sports
  • Crypto
  • Tech News
  • Gaming News
  • Travel

Trending News

cageside seats

Unlocking the Ultimate WWE Experience: Cageside Seats News 2024

World Of Warcraft‘s First Official LGBTQ Pride Event Discovered By Dataminers

Investing £5 a day could help me build a second income of £329 a month!

cageside seats
Unlocking the Ultimate WWE Experience: Cageside Seats News 2024
May 22, 2024
World Of Warcraft‘s First Official LGBTQ Pride Event Discovered By Dataminers
March 30, 2026
Investing £5 a day could help me build a second income of £329 a month!
March 27, 2024
Brussels unveils plans for a European Degree but struggles to explain why
March 27, 2024
© 2024 All Rights reserved | Powered by Vraltrendingcontent
  • About Us
  • Contact US
  • Disclaimer
  • Privacy Policy
  • Terms of Service
Welcome Back!

Sign in to your account

Lost your password?