Shein’s Profit Plunge Amid Global Tariffs | Global News

Shein’s fast-fashion empire just took a brutal hit, posting a $99 million loss in Q1 — a stark reversal from last year’s $395 million profit. Blaming U.S. tariffs on small packages (ended under Trump), rising costs from the Iran conflict, and a $328 million accounting write-down, Shein still boasts 281 million active users and is gearing up for its Hong Kong IPO after failed NYSE and London bids. Meanwhile, the EU’s new import levy adds fuel to the fire as global trade policies reshape Shein’s future. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/2612d5f115ac5483