Shein Warns EU Fees and French Fast-Fashion Penalties Will Raise Prices for French Shoppers

Shein has issued a warning that upcoming European Union handling fees and French fast-fashion penalties could significantly increase costs for French consumers, potentially adding up to €12 more per order by 2030, a company spokesperson said Thursday.

Quentin Ruffat, Shein’s spokesperson in France, told Sud Radio that the proposed €2 per-package EU fee on direct e-commerce deliveries and additional national-level environmental penalties in France would disproportionately affect Shein’s low-cost model.

“Why tax us? Why not have a discussion, find a solution between public officials and e-commerce platforms?” Ruffat asked.

Background: EU and France Target Fast Fashion

  • The European Commission has proposed a €2 handling fee on low-value e-commerce imports outside the EU, most of which originate from China.

  • A reduced €0.50 fee would apply to parcels routed through EU-based warehouses.

  • Separately, France’s National Assembly passed a bill in March to penalize fast-fashion goods due to environmental concerns, with the intent of limiting overproduction and waste.

  • The EU also plans to end duty-free treatment for e-commerce packages under €150 starting in 2028.

Impact on Shein and Consumers

Shein, which relies heavily on direct-to-consumer, low-cost shipments, argues that the new policies:

  • Discriminate against platforms like Shein and Temu

  • Will erode affordability for consumers across Europe, particularly in France

  • Threaten to increase average order prices by up to €12 by 2030, Ruffat said

The measures are viewed by critics as targeting ultra-fast fashion models that contribute to environmental degradation, excessive returns, and labor concerns.

Policy Outlook

  • The handling fee proposal still requires approval from EU member states and the European Parliament.

  • France has already endorsed the policy, and is seen as a key player pushing for tighter rules on imported low-value goods.

The U.S. has already moved in a similar direction, scrapping its “de minimis” $800 duty-free threshold earlier this month.

As e-commerce regulation tightens globally, platforms like Shein are coming under mounting pressure to adjust logistics and environmental practices—or risk losing market competitiveness in high-consumption regions like Europe.

BIS Digital Currency Chief Cecilia Skingsley Steps Down Early for Swedish Government Role

Cecilia Skingsley, the head of the Bank for International Settlements (BIS) Innovation Hub, is stepping down two years before the end of her five-year term to return to Sweden for a government appointment, the BIS announced.

Skingsley, a former deputy governor of Sweden’s Riksbank, will become County Governor of Stockholm County next month. She began her role at the BIS in September 2022, leading its work on central bank digital currencies (CBDCs) and other fintech innovations.

Departure Comes Amid BIS Strategic Shift

Her departure coincides with broader structural changes at the BIS, ahead of incoming General Manager Pablo Hernández de Cos, who takes over in July. Reports earlier this year indicated plans to scale back the Innovation Hub, which had grown rapidly since its 2019 launch, expanding to seven global financial centers including London, Singapore, and Hong Kong.

“Under Skingsley, the Innovation Hub made great strides toward fulfilling our strategic goal of helping central banks face the challenges of the future,” said Agustín Carstens, the BIS’s current chief.

CBDC Landscape in Flux

Skingsley’s exit also follows increasing geopolitical tension around CBDCs. Notably, the BIS abruptly withdrew last year from a high-profile CBDC pilot project with China and other Asian central banks, raising questions about internal policy shifts and global alignment.

CBDCs remain a strategic frontier for central banks, with dozens of jurisdictions exploring digital versions of national currencies amid competition from private stablecoins and global digital finance trends.

Interim Leadership and Succession Plans

  • The BIS said Deputy General Manager Andréa Maechler, formerly of the Swiss National Bank, will serve as interim head of the Innovation Hub.

  • A formal recruitment process for Skingsley’s successor will be announced “in due course.”

Skingsley’s early exit may influence how central banks recalibrate their digital currency strategies in the face of evolving regulatory, technological, and geopolitical pressures.

Bitcoin Hits Record High at $109,760 Amid Improved Sentiment and Institutional Tailwinds

Bitcoin surged to a new all-time high of $109,760.08 on Wednesday, surpassing its previous record from January and marking a major milestone in the cryptocurrency market. The leading digital asset was last trading up 1.1% at $108,117, as bullish sentiment returned following easing U.S.-China trade tensions and a weaker U.S. dollar.

The rally reflects a broader rebound in risk assets, with Bitcoin gaining more than 50% since April lows — a move supported by institutional momentum, regulatory clarity, and investor demand for dollar alternatives after Moody’s downgraded U.S. sovereign debt.

“Bitcoin enters blue sky territory… with tailwinds in the form of institutional momentum and a favorable U.S. regulatory environment,” said Antoni Trenchev, co-founder of Nexo.

Factors Driving the Rally:

  • Easing geopolitical trade tensions between the U.S. and China

  • Moody’s downgrade of U.S. credit rating, prompting investors to diversify away from the dollar

  • Weakening dollar (U.S. Dollar Index down), which typically supports BTC pricing

  • Institutional adoption, including:

    • JPMorgan reportedly allowing clients to buy Bitcoin

    • Coinbase being added to the S&P 500 Index

  • Continued correlation with tech equities; Nasdaq is up 30% since April

Bitcoin’s move comes in the fourth year of its price cycle, following the April halving, when mining rewards are cut in half — a historically bullish phase.

“A target of $150,000 in 2025 is still very much on the cards,” Trenchev added, though he cautioned about macro uncertainty and volatility ahead.

Ethereum Lags Behind

Interestingly, ether (ETH), the second-largest cryptocurrency, did not follow bitcoin’s rally. It was last down 0.5% at $2,513, reflecting a divergence that has puzzled some analysts.

Meanwhile, Coinbase (COIN.O), a key crypto trading platform, continues to attract attention after being added to the S&P 500, although it faces scrutiny from a Department of Justice probe into a recent data breach.

Outlook

With momentum returning to digital assets and regulatory headwinds easing, Bitcoin’s breakout into “blue sky” territory signals a potentially strong second half of the year. Still, investors remain wary of macro shocks and policy shifts that could inject fresh volatility into the crypto market.