EU reaches deal to fine online platforms importing products deemed unsafe

PARIS, March 26 (Reuters) - The European Union has reached an informal agreement to fine online platforms importing unsafe products, in a move which it said was aimed at tackling cheap and possibly unsafe Chinese goods entering the EU via platforms such as Temu and Shein.

The European Parliament and EU Council said in a joint statement on Thursday that they had reached this deal as part of a reform of the EU Customs Code.

"Systematic and repeated non-compliance will lead to stricter penalties of up to 6% of annual imports and the suspension of an online e-commerce platform. The goal: an internal market that no longer leaves platforms such as Temu, Shein and AliExpress untouched while putting massive amounts of non-compliant goods on the European market and unfairly competing with our businesses," said European Parliament official Dirk Gotink in a statement.

"This will make the single market significantly safer and fairer for consumers and businesses," he added.