Temu and Shein plan to cut US advertising spending and raise prices in response to new tariffs

Temu and Shein, two of China's biggest online retailers, are significantly slashing their advertising budgets in the US, hurting companies like Meta. The decision comes in the wake of an executive order that eliminates tax exemptions for merchandise under $800, increasing costs for these firms. Temu's advertising spending on various platforms has fallen 31% and Shein's 19% in recent weeks, according to industry data.