An employee at the company’s headquarters in Brooklyn. Moving beyond a quilt displaying signage.
Victor J. Blue/Bloomberg via Getty Image
Etsy Trying to make it easier for shopkeepers to buy products from local traders and avoid additional cost of imports President Donald Trump Sweeping tariffs raise concerns about increasing prices.
In A post on Etsy’s website On Thursday, CEO Josh Silverman stated that the company is “new ways for buyers to search for businesses in their countries through shopping pages” and the specialty of local vendors on their website and app.
“When we nurture and enable cross -border trade on Etsy, we understand that people are interested in fast shopping,” Silverman said.
Etsy operates an online marketplace that connects buyers and vendors to most artisans and handicrafts. Site, with 5.6 million active vendors By the end of DecemberE-commerce competes with jugarnote HeroicAlso, China has relations like Temu, Shin and Tikokk Shop as new entrances.
By highlighting local vendors, Etsy may relieve some shopkeepers from paying high prices President Trump Widespread tariffs on business partners. Trump has imposed tariffs on most foreign countries, with China facing a rate of 145%, and other countries are facing 10% rates. 90 days stoppage to allow for conversationTusrap Also signed an executive order This will eliminate the D minimis provision, a flaws for low-value shipments often used by online businesses on 2 May.
Temu and Shin Have already announced They plan to increase the prices late next week in response to tariffs. Amazon’s third-party vendors on the market, many of which are the source of their products in China, said they are considering raising prices.
Silverman said ETS Gives guidance to your vendors In view of the tariff, “Help your businesses with as little disruption as possible” and change in de minimis exemption.
Before Trump’s “Liberation Day” tariff, Silverman Said On the company’s fourth quarter earnings call at the end of February, he expects to benefit Etsy from tariffs and de minimis restrictions as it “has little dependence on products coming from China.”
Silverman said at that time, “Whatever work we can do, whatever work we can do and whatever can happen can be ready for it.” “In general, however, I think Etsy will be more flexible than many of our rivals in these situations.”
Nevertheless, American shopkeepers may face higher prices on ETSY because some of the costs of their products for American businesses or Chinese components pass on consumers.
This year Etsy shares are 17% below, which is slightly higher than the Nasdaq.
Watch: Amazon CEO Andy Jassi says that sellers will pass the cost of tariffs to consumers
