TEMU’S CHINESE OWNER SEES PROFITS PLUNGE AS TARIFF WAR BITE

PDD Holdings, The Chinese Proprietor of On-line Browsing Platform TEMU, Has Reported A Terminate to 50% Fall in Profit as US President Donald Trump’s Trade Police Added to Its Struggles in Its Home Country.

US-LISTED SHARES OF THE E-Commerce Massive Fell by Bigger than 13% on Tuesday, after the agency acknowledged it income for the predominant three months of the 365 days fell to 14.74bn yuan ($ 2.05bn, £ 1.5bn).

Earlier this month, the trump administration ended the so-class “de minimis” exemption that allowed parcels Payment mes than $ 800 (£ 593) Enter the US with Import Duties.

In China, PDD has been Locked in a Long-Operating Brand War with opponents be pleased alibaba and jd.com in the face of Old Person Spanding.