Pinterest slumps after flagging soft ad spend in major market US

Pinterest shares plunged about 15% on Friday after the image-sharing platform warned of weaker ad spending in the US, its biggest market, due to the removal of the “de minimis” trade loophole.

Tariffs-driven uncertainty and a suspension of the exemption that allowed packages valued at or under $800 to be shipped to the US without facing import duties have forced some Asian ecommerce companies to scale back their US marketing budgets.