The parent company, PDD Holdings, may have a bit of a problem. Thanks to a friend who reals all the fine print.
From the White House, February 1:
IMPOSING DUTIES TO ADDRESS THE FLOW OF
ILLICIT DRUGS ACROSS OUR NORTHERN BORDER
(h) For avoidance of doubt, duty-free de minimis treatment under 19 U.S.C. 1321 shall not be available for the articles described in subsection (a) and subsection (b) of this section.
That's subsection h of section 2 and it goes straight to the heart of Temu's business model.
Now if only I weren't such a big chicken about shorting non-frauds in a bull market.
