Temu's Chinese owner sees profits plunge as tariff war bites
Source: BBC
PDD Holdings, the Chinese owner of online shopping platform Temu, has reported a near 50% drop in profit as US President Donald Trump's trade policies added to its struggles in its home country.US-listed shares of the e-commerce giant fell by more than 13% on Tuesday, after the firm said its profits for the first three months of the year fell to 14.74bn yuan ($2.05bn , £1.5bn).Earlier this month, the Trump…
This is aggregated or syndicated coverage. Reporting and media belong to the original publisher.
Read the original source at BBC