Temu’s Chinese owner sees profits plunge as tariff war bites

[Pelican Press 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

Temu’s ******** owner sees profits plunge as tariff war bites

PDD Holdings, the ******** owner of online shopping platform Temu, has reported a near 50% drop in profit as US President Donald Trump’s trade policies added to its struggles in its home country.

US-listed shares of the e-commerce giant fell by more than 13% on Tuesday, after the firm said its profits for the first three months of the year fell to 14.74bn yuan ($2.05bn , £1.5bn).

Earlier this month, the Trump administration ended the so-called “de minimis” exemption that allowed parcels worth less than $800 ($593) enter the US without being hit with import duties.

In China, PDD has been locked in a long-running price war with rivals like Alibaba and JD.com in the face of weak consumer spending.

This is the hidden content, please

• Sign In
• or
• Sign Up

#Temus #******** #owner #sees #profits #plunge #tariff #war #bites

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up