From July 1st 2021 all goods imported to EU from outside EU must have VAT applied. There is no longer a lower threshold for VAT-free imports. This means that that €1 LED strip now will have your country's VAT applied and you also have to pay the handling fee / customs clearing fee to the carrier.
Goods valued less than €150 imported/exported between EU and UK will not have VAT applied. Note: This doesn't apply if UK or EU is just a “transit” country.
Apparently non-EU companies can register with the EU IOSS system, and collect VAT on behalf of the customer. In theory a Chinese seller could register with IOSS (requires a EU partner) and collect the VAT, and you should in theory avoid the carrier handling fee. Please update this page if you import goods from non-EU after July 1st 2021 and the VAT has already been collected by the seller.
Update from raccoonart 2021-07-27: Aliexpress collected VAT on a shipment to Germany. No carrier handling fees or anything. Seems to work at least for Aliexpress.
Update from Ivan Skytte Jørgensen: 2021-08-31: Aliexpress collected VAT on a shipment to Denmark. No carrier handling fees or anything. Ebay collected VAT on a shipment from Hong Kong to Denmark. No carrier handling fees or anything.
Update from wurtel 2021-09-02: Aliexpress collected VAT on shipment to The Netherlands. One shipment went straight to recipient without any additional fees. Other shipment was delayed in customs for 1 month (spot-check?) and then arrived without any additional fees.