Reported 9 days ago
The Biden administration is seeking to close the de minimis loophole which allows low-cost imports, like those from Temu, to enter the U.S. tariff-free. This could hurt PDD Holdings, which owns Temu, as regulatory changes may impact their business, especially given the growing competition and recent warnings of declining growth rates. The company acknowledges its vulnerability if this exemption is removed, making its future uncertain.
Source: YAHOO