An employee passes a quilt in which Etsy Inc.'s signage is displayed in the headquarters of the company in Brooklyn.
Victor J. Blue/Bloomberg via Getty Images
Etsy Try to make it easier for buyers to buy products from local dealers and avoid the additional import costs, since President Donald Trump's extensive tariffs take concerns about increasing prices.
In a contribution to the Etsy website on Thursday, CEO Josh Silverman said that the company was “new opportunities for buyers to discover companies in their countries via shopping pages and to present local sellers on their website and app.
“While we continue to promote cross -border trade with Etsy, we understand that people are increasingly interested in shopping in Germany,” said Silverman.
Etsy operates an online marketplace that connects buyers and sellers with mainly manual and handcrafted goods. The website, which had 5.6 million active sellers at the end of December, competes with the e-commerce juggernaut Amazonas well as newer participants who are connected to China such as Temu, Shein and Tikkok Shop.
By highlighting local sellers, Etsy could prevent some buyers from paying higher prices that have to be induced by President Trump's widespread tariffs for trading partners. Trump has imposed tariffs to most countries, with China facing a speed of 145%, and other nations with 10% prices after initiating a 90-day break to enable negotiations. Trump also signed an executive order that ends the demimis determination, a gap for programs with a low value that is often used by online companies on May 2.
Temu and Shein have already announced that they want to increase prices in response to tariffs at the end of next week. Sellers on the third-party market of Amazon, many of which receive their products from China, consider increasing prices.
Silverman said Etsy gave its sellers instructions to help them disrupt their business as little as possible after the tariffs and changes to the liberation of minimis.
Before Trump's “Liberation Day” tariffs came into force, Silverman said that at the end of February in the fourth quarter of the company, he expects the company's profit connection to expect Etsy from the tariffs and de-minimis restrictions because it “has much less dependency on products from China”. “
“We do every job that we can do to expect and prepare what may be,” said Silverman at the time. “In general, I think that Etsy will be more resistant in these situations than many of our competitors.”
Nevertheless, American buyers can be exposed to higher prices for Etsy as US companies that receive their products or components from China, through which consumers are passed on at some of these costs.
The Etsy shares fell by 17% this year, a little more than the Nasdaq.
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