China-founded e-commerce sites Temu and Shein say they plan to raise prices for U.S. customers starting next week.

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

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