Temu’s efforts to undercut Amazon rebuffed by suppliers, FT reports

U.S. suppliers are rebuffing Temu’s efforts to undermine Amazon (AMZN), saying Temu cannot undercut Amazon on branded product prices, The Financial Times’ Rafe Uddin reports. Temu, which is owned by PDD (PDD), has been told by U.S. companies and sellers that it cannot provide cheaper prices on branded products than those offered on Amazon, according to two people familiar with recent meetings. Temu, which is trying to overhaul its business model after the Trump administration removed the de minimis exemption that had allowed it to import cheap goods directly from China without paying customs duties, has seen its monthly active users on its U.S. app fall 54% between March and mid-July, according to data from Sensor Tower.