Cettire shares slump as US ends tariff exemption for low-value imports
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More news: Cettire shares plunged in early trading after the fashion retail company flagged a new executive order, signed by US President Donald Trump overnight, that will see tariff charges applied to low-value shipments into the US.
Shares were down 17.7% to 28 cents at 11am AEST, extending losses to more than 80% since the turn of the year.
Cettire mulls options as Trump orders end to low-value tariff exemption
The news: Fashion retail platform Cettire said it is "currently assessing the full implications" of new changes to US tariffs on overseas imports, after US President Donald Trump issued an executive order overnight which will end a "de minimis" exemption that allowed low-value commercial shipments to enter the US without facing tariffs.
The numbers: The new executive order, due to come into force on 29 August, will see all shipments with a dutiable value below USD800 ($1,241), regardless of manufacturing origin, subject to applicable tariffs on imports into the US.
Cettire said shipments to the US in May and June 2025 represented around 40% of the company's gross revenue. Shipments below the de minimis threshold represented the majority of sales to the US during this period.
Cettire shares are down around 75% since the turn of the year.
The context: Melbourne-headquartered Cettire said it is currently assessing the full implications of the latest tariff changes. It noted that "several major luxury brands have indicated they would seek to increase pricing of luxury goods in the US market to mitigate possible tariff changes".
Cettire said its localisation strategy has underpinned a continued broadening of its geographic revenue base, which it expects to continue.
The source: ASX
