eBay and Etsy Remain Resilient Amid Trump Tariff Pressures
Despite President Trump’s new wave of tariffs impacting global trade, eBay and Etsy say they remain largely unaffected — thanks to the nature of their sellers’ local sourcing strategies. During recent Q1 2025 earnings calls, both platforms confirmed that their exposure to Chinese imports is limited, giving them a competitive edge over import-heavy platforms like Temu and Shein.
eBay CEO Jamie Iannone noted that Chinese imports make up less than 10% of eBay’s total gross merchandise value (GMV), with Greater China to U.S. trade comprising just 5%. Etsy’s CFO Lanny Baker echoed a similar position, stating that only 1% of Etsy’s gross merchandise sales (GMS) come from U.S. imports of Chinese items.
Most Etsy sellers — often individual entrepreneurs — source their supplies domestically. However, Etsy is feeling pressure from consumer spending cutbacks. The platform saw a 3.4% drop in active buyers (88.5 million total) and an 11% decrease in habitual buyers, coupled with an 8.9% dip in marketplace GMS, now at $2.3 billion.
That said, Etsy’s acquisition of Depop continues to be a bright spot. The secondhand fashion platform has achieved record-high GMS, bolstering Etsy’s position in the resale economy.
Meanwhile, eBay has experienced a stronger quarter. With more cost-conscious shoppers seeking used or refurbished goods — now making up over 40% of its inventory — eBay’s GMV grew to $18.8 billion, while revenue climbed over 1% to $2.58 billion. CFO Steve Priest attributed this to increased consumer urgency to avoid future price hikes due to tariff fears.
As tariffs reshape the ecommerce landscape, platforms focused on local sourcing and secondhand goods appear better insulated from global trade disruptions.
