The European Commission has hit Chinese-owned online marketplace Temu with a €200 million fine, accusing the retailer of letting illegal products flow to shoppers across the bloc, including unsafe baby toys and faulty chargers. "The company failed to diligently identify, analyse and assess the systemic risks of illegal products being offered on its platform and the resulting harm to consumers in the European Union," the European Commission said in a statement. It said the evidence suggests EU consumers are highly likely to…

MINNEAPOLIS, Minn (AX) — "The Biden administration just rolled out fresh rules to tackle the flood of bargain-basement shipments from China, especially targeting online retail behemoths Shein and Temu," the Associated Press reported. This new directive sets its sights on closing gaps in the "de minimis" exemption, which currently allows goods under $800 to bypass U.S. tariffs and extra fees. The changes could profoundly affect Chinese e-commerce firms banking on low-cost, direct-to-consumer shipping to snag a foothold in the…