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BUZZ-Temu parent PDD falls as US to curb entry of low-value Chinese shipments

Reuters · 5d ago

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BUZZ-Temu parent PDD falls as US to curb entry of low-value Chinese shipments

** Shares of Temu parent PDD Holdings PDD.O drop more than 6% to $91.40 premarket

** U.S. government to curb the entry of low-value shipments under the $800 "de minimis" threshold, which has been exploited by Chinese e-commerce firms such as Shein and Temu

** Shein and Temu biggest beneficiaries of the provision by shipping directly to U.S. consumers from China

** U.S. retailers such as Amazon and Walmart also use the provision

** As of Thursday's close, PDD stock down more than 33% YTD

(Reporting by Savyata Mishra in Bengaluru)

((Savyata.Mishra@thomsonreuters.com))

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