关税松绑与供应链暗礁：跨界电商企业的危与机

Core Viewpoint - The recent US-China trade agreement, which includes a significant reduction in tariffs, is seen as a crucial signal for global economic recovery, particularly benefiting the cross-border e-commerce sector [1][4][16]. Group 1: Trade Agreement and Tariff Changes - The US and China have agreed to cancel 91% of additional tariffs and suspend 24% of "reciprocal tariffs," marking a significant step towards stabilizing trade relations [1][4]. - The US has also reduced the international mail tax rate from 120% to 54% for small packages, which is expected to provide some relief to Chinese e-commerce companies [4][5]. - Despite these positive changes, small package tariffs remain a concern, and the geopolitical landscape continues to pose risks for companies like Shein [1][4][5]. Group 2: Shein's Strategic Positioning - Shein is facing challenges due to geopolitical pressures and supply chain risks, prompting the company to consider relocating some production capacity to Vietnam [1][5][7]. - The company has increased its digital advertising spending in Europe, indicating a strategic shift away from the US market, which has become uncertain due to tariff changes [10][11]. - Shein's potential expansion in Europe may face hurdles, including new regulations on low-value e-commerce packages and the need to adapt to diverse consumer demands across different countries [13][14]. Group 3: Supply Chain and Domestic Focus - China's robust supply chain capabilities provide a significant advantage for Shein, which should focus on strengthening ties with domestic suppliers to enhance efficiency and resilience [8][17]. - The company is encouraged to invest in domestic supply chains and leverage technological innovations to improve product quality and competitiveness in the global market [8][17]. - Shein's long-term success will depend on its ability to navigate the complexities of international trade while maintaining a strong foundation in China [17].