08:06:10 EDT Tue 01 Jul 2025
Enter Symbol
or Name
USA
CA



Amazon.com CDR (CAD Hedged)
Symbol AMZN
Shares Issued 33,150,000
Close 2025-06-02 C$ 24.36
Market Cap C$ 807,534,000
Recent Sedar Documents

Globe/wire say Amazon told Temu slapped by Trump's tax

2025-06-03 08:05 ET - In the News

The Globe and Mail reports in its Tuesday edition that daily U.S. users of discount e-commerce platform Temu fell by 58 per cent in May, according to market intelligence firm Sensor Tower. A Reuters dispatch to The Globe says Temu decided to slash ad spending in the U.S. and shift its order fulfilment strategy after the White House on May 2 ended the practice known as "de minimis," which allowed Chinese companies to ship low-value packages to the United States tariff-free. Temu, along with fast-fashion giant Shein, had used that provision for years to drop-ship items directly from suppliers in China to consumers in the U.S., keeping prices low. Both Temu and Shein have suffered a sharp drop in sales growth and customer growth rates since U.S. President Donald Trump announced sweeping trade tariffs, according to data collected by Bain & Company, but Temu's trends have been worse than its rival. Tariffs forced both platforms to raise prices, but Shein has been able to increase the amount of money spent per customer compared with a year ago, the data showed, while Temu has struggled. Last week, Temu parent PDD's first quarter earnings fell short of growth estimates; executives attributed the shortfall to tariffs.

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