PDD Holdings Inc’s (NASDAQ:PDD) online retailer Temu and fast-fashion retailer Shein will increase prices next week to shift the burden of U.S. President Donald Trump’s tariffs and crackdown on affordable imports on consumers.
The companies shared plans to raise prices starting April 25, offering the customers a week to buy at the current prices, Reuters reported Thursday, citing the company’s websites.
Temu also slashed its online ad spending in the U.S. and noted plunging ranking in Apple Inc’s (NASDAQ:AAPL) App Store following U.S. tariffs on trading partners.
Read Next: Amazon, Temu, and Shein Under EU Scrutiny, Regulators Target Illegal Products and Tougher E-Commerce Rules
Temu has been spending money on TV ads and across Meta Platforms Inc (NASDAQ:Full story available on Benzinga.com
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