In the Headlines
June 21, 2024

Experts Say Shein's U.S. IPO Is All But Dead

National security attorney Antonia Tzinova spoke with CNBC about the mounting challenges facing Chinese e-commerce company Shein as it seeks to go public in the United States. The company, last valued at $66 billion, has faced increasing scrutiny from federal and state officials because of concerns over its relationship with China, alleged links to forced labor and claims of an unfair competitive advantage through customs law loopholes. As a result, Shein appears to be shifting its focus to a potential £50 billion offering in London. Ms. Tzinova noted significant impact of legislative action when it comes to addressing national security concerns related to Chinese-owned businesses, referencing a bill passed last month that forces TikTok to sell its U.S. assets or cease activity in the country.

"[Congress] just showed us that if a particular Chinese-owned company is perceived to be posing a threat, they can unify and pass a law, and that's much stronger than an executive order or presidential order," she said.

READ: Experts Say Shein's U.S. IPO Is All But Dead

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