A White House plan to narrow a trade loophole could mean painful times ahead for Chinese sellers on platforms such as Temu and Shein — and higher prices for U.S. consumers. CNBC's Eunice Yoon reports for NBC News from Shenzhen,

In his announcement proposing to crack down on "unsafe, unfairly traded products," President Joe Biden accused China-founded e-commerce platforms selling cheap goods of abusing the "de minimis exemption" that makes shipments valued under $800 duty-free.

The Biden administration is intensifying efforts to curb cheap imports from China, targeting e-commerce platforms like Shein and Temu that have taken advantage of the “de minimis” rule to bypass tariffs on low-value shipments.

Measures tightening customs waivers on low-value shipments of foreign goods going directly to U.S. consumers may undercut allegedly unfair cheaper pricing by Chinese e-commerce companies Shein and Temu.