De minimis rule changes are going to hit Chinese retailers like Temu. NurPhoto/Getty Images Trump ended de minimis tariff exemptions for packages from China and Hong Kong. Chinese e-commerce stocks like Alibaba and JD.com fell after the announcement. There were 1.36 billion de minimis shipments into the US last year, up from 139 million in 2015. Investors pulled out of some of China's biggest e-commerce companies after US President Donald Trump signed an executive order targeting low-value packages on Wednesday. The announcement sent shares of PDD Holdings — the owner of Temu — plunging 6% in after-hours trade on Nasdaq. The stock closed 2.6% lower at $119.07 apiece on Wednesday. Shares of Alibaba — which operates AliExpress — slumped 5.1% in after-hours trade in the US. Its Hong Kong-listed stock was down 5% by 11:15 a.m. local time. Shares of JD.com in Hong Kong tumbled 4.7%. Trump's order ends de minimis tariff exemptions for packages up to $800 from China and Hong Kong on May 2. The removal of the de minimis rule is a blow to Chinese e-commerce companies that have thrived on shipping low-value packages directly to US consumers. The White House said Trump is targeting "deceptive shipping practices by Chinese-based shippers, many of whom hide illicit substances, including synthetic opioids, in low-value packages to exploit the de minimis exemption." There were 1.36 billion de minimis shipments into the US last year, according to the US Customs and Border Protection agency — up from 139 million in 2015. But e-commerce giants Shein and Temu have already started preparing for the end of de minimis shipments by fulfilling more of their orders in the US. E-commerce experts told Business Insider in February that the companies' big advantage comes from ultra-low pricing . Read the original article on Business Insider