Temu loses more than half its daily U.S. users as ‘de minimis’ loophole ends

News Snapshot:

Open this photo in gallery: PDD Holdings' first quarter earnings fell short of growth estimates as tariffs created significant pressure for its merchants.Dado Ruvic/Reuters Daily U.S. users of PDD Holdings’ PDD-Q global discount e-commerce platform Temu fell by 58% in May, according to market intelligence firm Sensor Tower, one of many headwinds the e-retailer is facing amid a U.S.-China trade war. Temu decided to slash ad spending in the U.S. and shift its order fulfilment strategy after the White House on May 2 ended the practice known as “de minimis” – which allowed Chinese companies to ship low-value packages to...