Yahoo Finance

As the U.S. started applying hefty tariffs on small-value packages from China, bargain site Temu said it had stopped shipping products to U.S. consumers directly from the country, marking a dramatic shift in its business model. Ahead of the end of the so-called de minimis exemption for China-made goods on Friday, Boston-based Temu, owned by Chinese e-commerce giant PDD Holdings initially announced that it would raise prices starting last week. In recent days, its website shifted to labeling everything as “local,” meaning items that had already been imported to the U.S. in bulk and are sitting in U.S. warehouses.