The de minimis loophole, which allowed shipments less than $800 to be exempted from tariffs, is slated to end as of May 2.

China-founded e-commerce sites Temu and Shein say they plan to raise prices for U.S. customers starting next week, a ripple effect from President Donald Trump's attempts to correct the trade imbalance between the world's two largest economies by imposing a sky-high tariff on goods shipped from China.

Both fast fashion giants announced on April 16 that U.S. consumers will feel the impact of Trump's tariffs sooner than they thought.