The expansion of the loophole for tariff-free shipments of goods nearly a decade ago gave rise to Temu, Shein and other low-cost online retailers offering items straight from Chinese factories at unfathomable discounts.

近10年前，免税货运漏洞的扩大催生了Temu、希音(Shein)和其他低成本在线零售商的发展壮大，这些企业以难以想象的折扣直接提供来自中国工厂的商品。

It also unleashed something else — a cascade of billions of dollars of digital advertising that provided a windfall for Meta, Alphabet and other technology industry giants. Temu and Shein, jockeying for the attention of American shoppers, blanketed seemingly every inch of the internet with their ads. In the last two years, only Amazon spent more on online advertising in the United States than Shein or Temu.

这还带来了其他一些东西——数十亿美元的数字广告，为Meta、Alphabet和其他科技行业巨头带来了意外之财。为了吸引美国消费者的注意力，Temu和希音几乎在互联网的每一寸地方都投放了广告。在过去两年中，在美国，只有亚马逊在在线广告上的投入超过了希音和Temu。

Now, the advertising bonanza might be coming to an end after the demise of the shipping loophole that spurred it.

现在，在催生广告热潮的货运漏洞消失后，广告热潮可能即将结束。

On Friday, President Trump eliminated the exemption that had allowed goods made in mainland China and Hong Kong valued at less than $800 to enter the United States without being subject to import taxes. For Temu and Shein, this means they are now subject to tariffs of as much as 145 percent to bring over Chinese goods. Last week, Temu started adding “import charges” to certain products, which more than doubled the overall price to buy and ship the items.

周五，特朗普总统取消了一项豁免政策，即允许中国大陆和香港制造的价值低于800美元的商品免进口税进入美国。对Temu和希音来说，这意味着它们现在需要缴纳高达145%的关税才能将中国商品进口至美国。上周，Temu开始对某些产品增加“进口费用”，这使购买和运输这些产品的总价格增加了一倍多。

A Temu spokesperson said on Friday that the company had stopped shipping products from China directly to customers in the United States, and that its U.S. orders would now be shipped from local warehouses in America, as the business “transitions to a local fulfillment model.” Shein did not immediately respond to an email requesting comment.

Temu发言人周五表示，该公司已停止从中国直接向美国客户发货，其美国订单现在将从美国当地仓库发货，因为该业务“正在向本地配送模式过渡”。希音没有立即回复请求置评的电子邮件。

The new tariffs are expected to deal a punishing blow to companies built on selling goods at rock-bottom prices and attracting customers through aggressive online advertising.

新的关税预计将对那些以低价销售商品和通过积极的在线广告吸引顾客为基础的公司造成重大打击。

2023年的Temu网站。

Using the slogan “Shop Like a Billionaire,” Temu bought advertising time during the Super Bowl.

以“像亿万富翁一样购物”为广告语的Temu购买了超级碗广告时段。

Temu’s parent company, PDD Holdings, used a similar strategy for its Chinese e-commerce app, Pinduoduo, in China, spending lavishly on advertising to grow rapidly in a competitive market.

Temu的母公司拼多多控股在中国对其中国电子商务应用拼多多采用了类似的策略，在广告方面投入巨资，以便在竞争激烈的市场中迅速增长。

Sky Canaves, a principal analyst for retail and e-commerce at the research firm eMarketer, said the ads from Temu and Shein were once “inescapable” on search, social media and apps. But that is changing.

研究公司eMarketer的零售和电子商务首席分析师斯基·卡纳维斯表示，在搜索、社交媒体和应用程序上，Temu和希音的广告曾经“躲都躲不开”。但这种情况正在改变。

“They’ve already pulled back their advertising pretty heavily,” she said.

她说：“他们已经大幅削减了广告投放。”

Over a two-week period starting March 31, Temu spent 31 percent less on U.S. daily advertising on Facebook, Instagram, TikTok, Snap, X and YouTube than its average daily spending on those platforms in the previous 30 days, according to estimates from Sensor Tower, a market intelligence firm. Shein’s daily advertising outlays on its social networks in the United States were down 19 percent over the same two weeks.

根据市场情报公司Sensor Tower的估计，从3月31日开始的两周时间里，Temu在Facebook、Instagram、TikTok、Snap、X和YouTube上的每日美国广告支出，比之前30天在这些平台上的平均每日支出少了31%。希音在美国社交网络上的每日广告支出在这两周内下降了19%。

Temu and Shein, which had flooded Google in the United States with ads for the goods they sell, started to disappear from the platform in April. On April 5, Temu accounted for 19 percent of all U.S. ads displayed on Google Shopping, but that figure dropped to zero a week later, according to research by Tinuiti, a marketing firm. Shein went from around 20 percent in early April to zero by April 16.

Temu和希音在美国的谷歌平台上投放了大量它们所销售商品的广告，但从4月份开始，这些广告从该平台上消失。营销公司蒂努蒂的研究显示，4月5日，在谷歌购物平台上展示的美国广告中，Temu占19%，但一周后，这一数字降至零。希音在4月初占20%左右，到4月16日降至零。

Tinuiti identified the tariffs as the main factor behind the advertising pullback. It said the reduction in spending coincided with the raising of prices by both companies on certain products.

蒂努蒂认为，关税是广告减少的主要原因。该公司表示，在削减支出的同时，两家公司也提高了某些产品的价格。

Without the constant advertising presence, Temu’s and Shein’s apps have fallen off the charts of the 10 most downloaded mobile apps in the United States. Temu served about 30 million daily users in the United States, the company disclosed in a lawsuit filed against Shein in 2023.

由于没有持续的广告投放，Temu和希音的应用程序已经跌出了美国移动应用程序下载量前十榜单。Temu在2023年对希音提起的诉讼中披露，Temu在美国每天为大约3000万用户提供服务。

Temu和希音在互联网上投放海量广告。过去两年，它们在美国的网络广告支出仅次于亚马逊。

At Meta, which owns Facebook, Instagram and WhatsApp, some Asian retailers had already reduced their U.S. advertising spending in anticipation of the end of the so-called de minimis exemption, Susan Li, Meta’s chief financial officer, said on a conference call with investors on Wednesday. Some of the spending has been redirected to Meta platforms in other markets, but the spending in April was down from a year earlier, she said. Ms. Li did not name any of the companies.

拥有Facebook、Instagram和WhatsApp的Meta公司的首席财务官苏珊·李周三在与投资者的电话会议上表示，由于所谓的“小额豁免”即将结束，一些亚洲零售商已经减少了在美国的广告支出。她说，部分支出已转向其他市场的Meta平台，但4月份的支出较上年同期有所下降。苏珊·李没有透露这些公司的名称。

Investors were closely watching what Meta said because advertisers from China, led by Temu and Shein, had been one of the company’s fastest-growing segments. Last year, advertisers from China generated $18.4 billion in revenue for Meta, accounting for about 11 percent of its total and more than doubling in size since 2022.

投资者密切关注Meta的言论，因为以Temu和希音为首的中国广告客户一直是该公司增长最快的部分之一。去年，来自中国的广告商为Meta创造了184亿美元的收入，约占其总收入的11%，自2022年以来增长了一倍多。

Snap, a social media firm, said that “a subset of advertisers” had cut back on spending because of the changes to the shipping loophole. The company declined to provide a forecast for its current quarter, citing the uncertainty caused by the tariffs. Snap’s shares fell 12 percent after the announcement.

社交媒体公司Snap表示，由于货运漏洞的变化，“一小部分广告商”削减了支出。该公司以关税带来的不确定性为由，拒绝提供当前季度的预测。消息公布后，Snap的股价下跌了12%。

Last week, Philipp Schindler, Google’s chief business officer, said changes to the tariff loophole “will obviously cause a slight headwind to our ads business in 2025,” primarily from Asian e-commerce companies. He also did not identify specific companies.

上周，谷歌首席商务官菲利普·辛德勒表示，关税漏洞的改变“显然会在2025年对我们的广告业务造成轻微的不利影响”，主要来自亚洲的电子商务公司。他也没有指明具体的公司。