Temu, the e-commerce app owned by China’s PDD Holdings, topped Apple’s list of most downloaded free apps in the U.S. for the second consecutive year, showcasing the success of Chinese apps in the American market. Despite uncertainties surrounding its future in the U.S., ByteDance’s TikTok ranked third, while Temu’s competitor Shein placed 12th. Apple’s iOS dominates over half of the U.S. mobile phone market, with Temu entering in 2022 and challenging Amazon’s dominance, although facing scrutiny from U.S. officials and potential tariff increases under the new administration.
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EU spurns economic dialogue with China over deepening trade rift
The EU has decided against holding the EU-China High-Level Economic and Trade Dialogue before the leaders' summit in July, citing unresolved trade disputes, including tariffs and market access issues. This decision highlights ongoing tensions, especially as China faces criticism for its export restrictions and the summit will be attended by Premier Li Qiang instead of President Xi Jinping, seen as a diplomatic snub. Need More Context? 🔎
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