Temu, a Chinese online retailer, has reduced its advertising budget following President Trump's tariffs on imported goods from China, which resulted in a significant decline in app downloads. Previously, its aggressive marketing and low prices made it a top app, but a 145% tariff and incoming changes to duty-free imports have forced an adjustment in its pricing strategy. Temu plans to increase prices to manage the higher operational costs while still aiming to meet consumer demands with quality products.
"Due to recent changes in global trade rules and tariffs, our operating expenses have gone up. To keep offering the products you love without compromising on quality, we will be making price adjustments starting April 25, 2025."
"With hefty spending on TV ads as well across Facebook, the company promoted clothing, jewelry, home goods and electronics at bargain basement prices."
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