Temu parent PDD's stock tumbles as Trump tariffs close trade loophole
Publishing timestamp: 2025-02-03 19:01:27
Summary
Shares of PDD Holdings, the parent company of Temu, plunged after President Trump announced new tariffs on the top three trading partners of the country. The tariffs eliminate the "de minimis" trade exemption, which has been crucial for Chinese online retailers like Temu and Shein to maintain their low prices. The removal of this exemption could impact their growth and digital ad spending in the future.
Sentiment: NEGATIVE
Keywords: breaking news: technology, pdd holdings inc, business news, internet, technology, meta platforms inc,