By Patience Haggin
Snap said some advertisers have curbed their ad spending due to the Trump administration's plans to close a loophole that previously waived tariffs for lower-priced goods.
The impact of the end to the so-called "de minimis" rule, which made it possible for Chinese shippers such as Temu and Shein to build massive e-commerce businesses in the U.S. by shipping products directly to customers, looms over social-media companies this earnings season.
Revenue at Snap, Meta Platforms and other tech giants surged by billions in recent years, in part from China-based digital advertising.
Shap shares fell 20% in after-hours trading. The company declined to share formal guidance for the second quarter, and executives said the Snapchat-operator had experienced headwinds in the current quarter. The company said daily active users continued to grow outside of North America.
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April 29, 2025 18:45 ET (22:45 GMT)
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