不再做“美国梦”，跨境巨头涌向欧洲

Core Viewpoint - The "American Dream" of major Chinese cross-border e-commerce platforms is collectively shattering due to unstable tariff policies and new regulations on small package tariffs, prompting a shift towards European and Latin American markets [1][2][10]. Group 1: Impact of Tariff Policies - As of May 2, 2025, packages from mainland China and Hong Kong valued under $800 will no longer enjoy tariff exemptions, facing a 120% tariff or a fixed fee of $200 per order, significantly impacting cross-border e-commerce operations [1][2]. - Temu's business volume in the U.S. dropped by 40% from March to April 2025 and by 72% compared to its peak in 2024, with daily active users decreasing by 58% in May due to the end of small package tariff exemptions [2][5]. Group 2: Strategic Shifts in Market Focus - Major platforms are reallocating resources to European and Latin American markets, with Temu's traffic allocation showing only 4% to North America and 49% to Europe as of April 2025 [1][2]. - Temu aims to double its revenue target in Europe for 2025 compared to 2024, redistributing resources from the U.S. market and increasing local supplier partnerships [11][12]. Group 3: Challenges in the U.S. Market - TikTok Shop's sales target for 2024 in the U.S. is $17 billion, but internal reports indicate consistent underperformance, with a 20% drop in weekly orders following tariff implementation [5][6]. - SHEIN has been reducing its U.S. market presence since 2024, facing challenges in penetrating the core consumer demographic compared to competitors like Temu [9][10]. Group 4: Growth in European and Latin American Markets - Temu's market share in Brazil reached 9.9% in April 2025, surpassing Shopee, while SHEIN also targets significant growth in Latin America, with an expected 80% increase in revenue from Brazil and Mexico in 2024 [20][21]. - TikTok Shop is expanding in Latin America, focusing on local operations due to high tariffs, with daily sales in Mexico at approximately $700,000 and $110,000 in Brazil [21].