An early tally of the impact of President Trump’s tariffs is in — and it’s, well, not encouraging. The US economy shrank in the first quarter, the first decline in three years, the Commerce Department said on Wednesday.

Donald Trump is photographed in golf carts as often as in the presidential limo, and its 'Made in America' manufacturing claim relies on a global supply chain.

The Chinese government has leverage over the two firms. Although Temu has grown quickly, PDD, its parent company, remains heavily dependent on its Chinese business, Pinduoduo. Shein does not sell its wares in the country, but it does rely on Chinese tech talent for its algorithm.