Temu steers users to 'local' products after Trump shuts tax loophole
Publishing timestamp: 2025-02-06 00:22:51
Summary
Temu is promoting items shipped from U.S. warehouses more prominently in its app after President Trump revoked the de minimis provision, which allowed Chinese e-commerce companies to send goods worth less than $800 into the U.S. duty-free. This move has led to increased competition with other e-commerce giants like Amazon and Walmart, and has caused volatility in PDD's stock price. Critics argue that the de minimis provision provided unfair advantage to Chinese companies, while others believe its removal would burden customs officials and increase government costs.
Sentiment: MIXED
Tickers: EBAY, AMZN, WMT, PDD,
Keywords: donald j. trump, ebay inc, amazon.com inc, technology, pdd holdings inc, politics, walmart inc, business news, internet, breaking news: politics, breaking news: technology,
Source: https://www.cnbc.com/2025/02/05/temu-steers-users-to-local-products-after-trump-ends-de-minimis.html