The European headquarters of Temu in Dublin has been searched by the regulatory authorities of the European Union, following concerns about possible subsidies granted by the Chinese state to the online retailer. Temu, a subsidiary of PDD Holding, has attracted attention due to cheap imports from China, which have flooded the European market due to a customs exemption for packages valued under 150 euros. The European Commission intends to eliminate this exemption by the end of next year, and the regulation on foreign subsidies aims to limit unfair competition from subsidized foreign companies. Temu has already been the subject of previous investigations, and the current searches suggest evidence of violations. The retailer has gained global popularity, even prompting Amazon to launch a competing product.
Sources
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