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Investing.com-- Shares of major Chinese e-commerce companies fell today after the United States Postal Service (USPS) announced an indefinite suspension of incoming parcels from China and Hong Kong.
This action is part of escalating trade tensions between the U.S. and China, following recent tariff increases and policy changes affecting cross-border commerce.
In Hong Kong, JD (NASDAQ:JD).com (HK:9618) stock fell 3.6%, reflecting investor concerns over potential disruptions to its international logistics and sales.
Alibaba (NYSE:BABA) Group (HK:9988), Baidu (NASDAQ:BIDU) Inc (HK:9888), and Meituan (HK:3690) shares inched lower on Wednesday. As a leading player in global e-commerce, Alibaba faces significant challenges due to the USPS suspension, which could impede its ability to fulfill international orders efficiently.
China’s PDD Holdings Inc (NASDAQ:PDD), the parent company of Pinduoduo and Temu, recorded a substantial drop at the start of the week in its U.S.-listed shares. This has also raised concerns about the broader Chinese e-commerce sector’s resilience amid tightening international trade policies.
The USPS suspension follows the U.S. government’s recent elimination of the de minimis duty-free exemption for low-value packages, a move that previously allowed shipments under $800 to enter the country without duties.
This policy change is expected to significantly impact U.S. consumer orders from major Chinese retailers, potentially leading to increased costs and delays.
Hong Kong-listed GOME Retail (HK:0493), a long-standing electronics and home appliance retailer with a growing online presence, saw its stock drop 10% on Wednesday.
In response to U.S. actions, China has imposed tariffs on American goods and announced new investigations into U.S. companies operating within its borders.