China-founded e-commerce sites Temu and Shein say they plan to raise prices for U.S. customers starting next week, a ripple effect from President Donald Trump's attempts to correct the trade imbalance between the world's two largest economies by imposing a sky-high tariff on goods shipped from China.

Chinese online marketplace Temu and fast-fashion retailer Shein, two of the biggest advertisers on U.S. social media, are sharply cutting their U.S. digital ad spending, industry data show, in a blow to tech companies such as Meta's Facebook and YouTube.