By coinnews 
00:00 Speaker A
Another stock we are watching this morning, PDD, Pinduoduo. That is the parent company of Temu. In focus after Temu and its competitor, Shein, saw double digit sales declines in the week after they raised retail prices to cover the costs of increased US tariffs. An initial sign that Donald Trump’s trade measures have taken a toll on the shopping platforms popularity. This according to data from Bloomberg. So let’s dive into some of that data. Shein US sales dropping 23% the week after it raised prices. Temu seeing a 17% decline in that same stretch. This according to data coming from Bloomberg. And this of course comes after we saw some prices for goods on these platforms rising by as much as 300% in some cases. Now, of course, it’s important to remember that a lot of those products were already incredibly inexpensive and affordable. So you could see a two dollar item becoming six dollars. But obviously, as you can see, both in the ADRs here and the price action on the company, like Pinduoduo, and also in these sales numbers, that is already starting to weigh on consumers. Of course, this comes after the de minimus exception, exemption was rolled back that allowed for a loophole in shipments of orders under $800. They were not, uh, experiencing tariffs and of course they are now. So that cost getting passed on to consumers through these price hikes here. And you’re seeing that weighing on these company sales here. These trade measures also, as a reminder, are going to be up for discussion as we do head into these talks between the US and China, which Treasury Secretary’s Scott Beson says are coming up here this Saturday.