Temu parent shares fall on proposed US import rule shift

NEW YORK – Shares of PDD Holdings, the owner of the Chinese e-commerce platform Temu, dropped by about 3 per cent following the Biden administration’s announcement of proposed trade rule changes aimed at curbing low-value shipments entering the US duty-free. The changes target the exploitation of the US$800 “de minimis” threshold by firms like Temu and Shein. The new rules would remove exemptions for goods subject to various tariffs, including those on Chinese products and would introduce stricter information disclosure requirements for small packages.