PDD Holdings, the Chinese 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.
Subscribe here: http://bit.ly/1rbfUog
For more news, analysis and features visit: www.bbc.com/news
#China #BBCNews
Author: BBC News
Go to Source
News post in May 28, 2025, 6:05 pm.
Visit Our Sponsor’s:
News Post In – News
