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Stock impact report

Temu slashes U.S. ad spending, plummets in App Store rankings after Trump China tariffs [MSNBC.com]

Similarweb Ltd. Ordinary Shares (SMWB) 
Company Research Source: MSNBC.com
Chinese online retailer Temu, whose “Shop like a billionaire” marketing campaign made its way to last year’sSuper BowlApple’sPresident Donald Trump’sTemu, which is owned by Chinese e-commerce giantPDD HoldingsThe strategy was so effective that Temutopped Apple’s list of the most downloaded free appsGooglePresident Trump’s tariffs have upended Temu’s business model, along with its advertising strategy. Packages shipped from China are now subject to a tariff rate of 145%, while the de minimis provision, which allows shipments worth less than $800 to enter the country duty-free,is set to go awayTemu and Shein, a fast-fashion marketplace with ties to China, plan to raise their prices in response to the tariffs. Both companiesposted notices“Due to recent changes in global trade rules and tariffs, our operating expenses have gone up,” TemusaidSellers on Amazon’s third-party marketplace, many of whom source their products from China, have said they’re considering raising prices as they recko Show less Read more
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