Shein's tariff arbitrage

What they're saying: "The de minimis provision is foundational to Shein and Temu’s business models," finds a House of Representatives report into the companies.

By the numbers: Shein and Temu between them ship about 600,000 packages per day to the U.S. under the de minimis exception.

• The Gap, a company that sources clothing in China and ships it in bulk, paid about $700 million in import duties in 2022. Shein and Temu, by contrast, paid nothing.

The bottom line: If Shein does decide to go public in the U.S., possible changes to the de minimis rule will be very high up on its list of risk factors.