Representative Blaine Luka-Meyer, has urged extreme caution towards Sheen, a fast-fashion company planning to trade on U.S. exchanges, due to concerns over forced labor and exploitation of U.S. trade laws. Luka-Meyer and other lawmakers sit on a new House committee investigating Sheen’s use of forced labor and its reliance on the trade loophole to ship many small packages to the US without customs checks. Sheen has acknowledged that some of its raw materials come from regions banned due to forced labor concerns and claims to have policies against forced labor and to halt shipments if banned materials are detected.
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00:00 It's Benzinga and here's what's on the block.
00:02 Representative Blaine Lukmeier has urged extreme caution towards Shein, which is a fast fashion
00:07 company planning to trade on the US exchanges due to concerns over forced labor and exploitation
00:12 of US trade laws.
00:14 Lukmeier and other lawmakers sit on a new House committee investigating Shein's use
00:18 of forced labor and its reliance on the trade loophole to ship many small packages to the
00:22 US without custom checks.
00:24 Shein has acknowledged that some of its raw materials come from regions banned due to
00:28 forced labor concerns and claims to have policies against forced labor and to halt shipments
00:33 if banned materials are detected.
00:35 For all things money, visit Benzinga.com.
00:37 (upbeat music)