The latest ranking highlights the continued success Chinese apps are having in the U.S., with Bytdance's TikTok ranking third and Temu-competitor Shein coming in at number 12.
Temu, the popular e-commerce app owned by China's PDD Holdings, topped Apple's list of the most downloaded free apps on its U.S. iOS store for the second year running, highlighting the massive success that Chinese apps are enjoying in the world's largest consumer market.ByteDance's TikTok came in third in the ranking despite doubts over its ability to continue operating in the U.S., while Temu-competitor and fast-fashion giant Shein came in at number 12.
If Temu and Shein were to lose their de minimis exemption, it could push up prices and reduce the Chinese companies' competitiveness, In a global outlook report released Friday, Nomura said that its U.S. economics team expects changes to the de minimis rule to be a key trade priority for the Trump administration, perhaps second only to hiking tariffs.