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    Home»Tech News»Temu’s Chinese owner sees profits plunge as tariff war bites
    Tech News

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

    The Daily FuseBy The Daily FuseMay 28, 2025No Comments1 Min Read
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    Temu’s Chinese owner sees profits plunge as tariff war bites
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    PDD Holdings, the Chinese language proprietor of on-line procuring platform Temu, has reported a close to 50% drop in revenue as US President Donald Trump’s commerce insurance policies added to its struggles in its residence nation.

    US-listed shares of the e-commerce large fell by greater than 13% on Tuesday, after the agency stated its earnings for the primary three months of the yr 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 price lower than $800 (£593) enter the US with out being hit with import duties.

    In China, PDD has been locked in a long-running value battle with rivals like Alibaba and JD.com within the face of weak shopper spending.



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