Table of Contents

• Shein IPO

• Trump Tariffs

Top Stories Today

Shein IPO

Shein has confidentially filed a draft prospectus with the Hong Kong Stock Exchange, aiming to revive its IPO ambitions after a stalled London listing dragged over risk‑disclosure language about Xinjiang supply‑chain concerns. The Singapore‑based fast‑fashion retailer intends to leverage Chinese regulatory approval to pressure the U.K. Financial Conduct Authority, even as it faces EU findings over misleading consumer practices and the looming end of the U.S. de minimis import exemption. Underwriters including Goldman Sachs, JPMorgan, Jefferies and Wells Fargo are lined up to support the offering, which the company argues could drive greater transparency and accountability amid growing ESG scrutiny. Despite reporting a six-fold revenue increase to $55.9 million for the year to March, Shein’s net loss widened to $60.1 million, and it carries a $1.1 billion backlog of orders.

Trump Tariffs

Trump warned he may impose as much as 200% tariffs on imported drugs but would delay implementation for about a year to encourage U.S. manufacturing. Commerce Secretary Howard Lutnick says formal recommendations on pharmaceutical and semiconductor duties are due at month’s end. While the plan stems from an April national-security review, it’s uncertain whether the full rate will be applied, and stocks barely reacted. Industry groups counter that hefty levies would drive up patient costs, deter investment, and risk supply disruptions.

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