In just 17 days after launch, Temu surpassed Instagram, WhatsApp, Snapchat and Shein on the Apple App Store in the U.S., according to Apptopia data shared with CNBC.
The rise of the discount shopping apps, including TikTok Shop from China's ByteDance, is creating fresh competition for U.S. e-commerce companies like Amazon and eBay.
Much of their growth, according to some industry experts, is the result of a trade loophole known as the de minimis exception that allows packages shipped from China valued at under $800 to enter the U.S. duty free.
Amazon's top public policy executive expressed concerns about some Chinese companies' business models being subsidized, pointing out potential issues with pricing rules and enforcement.
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