Sequoia Capital's 2020 Venture Fund Sees 24.6% Value Markup Despite Lack of Exits
Sequoia Capital's 2020 venture fund marks up value by 24.6% despite no exits, bucking trends and highlighting AI sector's resilience
Max Carter
The European Union is contemplating a crackdown on the surge of cheap packages arriving from Asian online retailers, citing concerns over safety and counterfeiting. According to a report by the Financial Times, the EU is considering measures to regulate the influx of low-cost goods from e-tailers like AliExpress, Shein, and Temu.
The issue at hand is the current lack of custom duties on goods valued at less than €150. While the EU is not planning to scrap this threshold, it is physically impossible to inspect every package, with 40 packages arriving in the Netherlands via air or sea freight every second. This has led to concerns about the safety and authenticity of these imported goods.
In response, the European Commission is exploring alternative solutions. One option is to introduce a per-package administrative handling fee, which would increase the cost of importing these goods. Another possibility is to impose a tax on the revenue of e-commerce platforms. Both approaches would likely involve lengthy negotiations between the Commission, the World Trade Organization, and the EU's 27 Member States.
The proposed measures aim to enforce the EU's safety standards on ultra-cheap goods made and shipped directly from China. By making it more expensive for importers to sell low-cost goods, the EU hopes to curb the influx of potentially hazardous or counterfeit products. This move could have significant implications for the e-commerce industry, particularly for Asian online retailers that have grown reliant on the EU market.
The EU's concerns are not unfounded, as the rise of cheap imports has led to concerns about product safety, intellectual property infringement, and unfair competition. The bloc's efforts to regulate these imports could set a precedent for other regions struggling with similar issues. As the EU navigates the complexities of global e-commerce, its decisions will be closely watched by stakeholders around the world.
While the details of the proposed measures are still unclear, one thing is certain – the EU is taking a firm stance on ensuring the safety and authenticity of goods entering its markets. As the global e-commerce landscape continues to evolve, the EU's actions will have far-reaching implications for consumers, businesses, and policymakers alike.
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