Shein's Quest for Membership in NRF Hits Roadblock as It Pursues U.S. IPO
Chinese fast-fashion giant Shein seeks to gain favor with U.S. lawmakers and the broader U.S. retail industry. However, Shein's efforts to join the National Retail Federation have been repeatedly rejected. Shein is perceived as exploiting the de minimis provision, a U.S. tariff law loophole that exempts packages under $800 from import duties and rigorous screening. Shein's ties to China and concerns over forced labor and fair competition could be reasons for the NRF to deny membership.
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00:00 It's Benzinga and here's what's on the block.
00:02 Chinese fast fashion giant Xi'an is seeking to gain favor with US lawmakers and the broader US
00:08 retail industry. However, Xi'an's efforts to join the National Retail Federation have been
00:12 repeatedly rejected. Xi'an is perceived as exploiting the de minimis provision, a US
00:18 tariff law loophole that exempts packages under $800 from import duties and rigorous screening.
00:24 Xi'an's ties to China and concerns over forced labor and fair competition could be the reasons
00:28 for the NRF to deny membership. For all things money visit Benzinga.com