BUZZ-PDD drops after possible U.S., EU crackdowns; de minimis closure

Reuters
02-05
BUZZ-PDD drops after possible U.S., EU crackdowns; de minimis closure

** U.S.-listed shares of PDD Holdings PDD.O fall 6.1% to $107.10 in premarket trading

** U.S. considering whether to add PDD's Temu and fast-fashion retailer Shein to Homeland Security's "forced labor" list, Semafor reported on Tuesday

** Meanwhile, the European Commission says Temu, Shein will be liable for sale of unsafe and dangerous products on their platforms

** U.S. Postal Service will temporarily suspend parcels from China and Hong Kong after President Donald Trump ends "de minimis" exemption allowing U.S. shoppers to avoid paying tariffs on low-cost shipments

** End of provision likely to raise prices for U.S. sales of companies including Temu

** Other U.S.-listed shares of Chinese e-commerce companies fall: Alibaba BABA.N down 2%, JD.com JD.O loses 2.8%

** Up to Tuesday's close, PDD shares up 17.6% this year

(Reporting by Lisa Pauline Mattackal)

((LisaPauline.Mattackal@thomsonreuters.com;))

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