The e-commerce giant Temu's owner, Chinese PDD Holdings, is taking a sharp hit in pre-trading on the New York stock exchange following a quarterly report. The stock is down over ten percent after the company, among other things, reported a significantly worse adjusted operating result than expected.
Temu has, just like the fashion company Shein, been able to take advantage of a loophole when it comes to exporting to the USA by packaging with low values not being subject to any tariffs. President Donald Trump has, however, introduced tariffs against China, which were lowered a couple of weeks ago, from previously 120% to 54% for a 90-day period.
