Published on: 2025-06-18 19:17:34
Temu's Chinese owner sees profits plunge as trade war bites 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 administration ended the
Keywords: chinese fell owner pdd profits
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