Temu slashes U.S. ad spending, plummets in App Store rankings after Trump China tariffs
1. Temu's ad spending cut followed tariffs, leading to a 62% drop in downloads. 2. Packages from China now face a 145% tariff, increasing costs for Temu and peers. 3. Temu and Shein announced coming price hikes due to rising operating expenses. 4. PDD Holdings shares fell 22%, indicated market pressures from decreased app popularity. 5. The e-commerce landscape is shifting, impacting rivals like Amazon and Meta.