Temu and Shein, which significantly expanded their business in the U.S. in recent years, have shifted focus to European markets after Donald Trump's trade forced a rejig to their business, a Reuters report noted.

The administration's elimination of the so-called “de minimis” loophole has implications for businesses ranging from Etsy sellers to e-commerce behemoths.

The “de minimis” exemption, which allowed duty-free entry of packages valued at less than $800, has been repealed by order of former President Donald Trump.