Tariffs, Temu, and the Pursuit of a Decent Yield

The Supreme Court, in a move that felt less like jurisprudence and more like untangling a particularly stubborn ball of yarn, decided President Trump didn’t have the authority to just… impose tariffs. It’s funny, isn’t it? All that bluster, all those tweets, undone by a technicality. I was watching the news, stirring my instant coffee – the kind that tastes vaguely of regret – and I thought, “Well, that’ll be good for someone’s quarterly report.” As a dividend hunter, I’m trained to see the silver lining in even the most chaotic of political storms.

Amazon and PDD, a company I’d previously only encountered in the “interesting stock tickers” section of financial news, both had a little bounce after the ruling. Three and four percent, respectively. It’s not exactly a windfall, but enough to make you reconsider that extra avocado toast. I started digging, naturally. A man has to justify his obsession with passive income somehow.

It turns out, a significant chunk of Amazon’s third-party sales – 24%, apparently – comes from sellers based in China. PDD, which I’m told is a major player in the cut-price e-commerce space, actively encourages Chinese merchants to sell directly to Americans through its Temu platform. So, fewer tariffs on Chinese goods mean lower prices, more volume, and, theoretically, happier shareholders. It’s a remarkably simple equation, really. Though, if it were truly simple, I wouldn’t have a job.

But here’s where it gets messy, as most things invariably do. The Supreme Court may have struck down those specific tariffs, but they didn’t magically reinstate the “de minimis” rule. This rule, for those not fluent in the language of international trade, used to allow shipments under $800 to bypass tariffs altogether. It was a boon for small-scale importers, and, let’s be honest, for anyone ordering novelty socks from overseas. The Trump Administration, in a fit of what I can only assume was pique, eliminated it. Now everything is taxed. It’s like they’re punishing us for enjoying affordable goods.

And then, just when you thought things couldn’t get more convoluted, they slapped on a new 15% tariff under Section 122 of the Trade Act of 1974. A “global” tariff, no less. It’s temporary, supposedly, lasting up to 150 days while Congress debates whether to make it permanent. The whole thing feels less like trade policy and more like a particularly passive-aggressive game of chess. I swear, sometimes I think the people making these decisions have never actually bought anything online.

So, while Amazon and PDD enjoyed a little pop, it’s not exactly time to start planning that early retirement. The overseas merchants will likely see some minor tariff reductions, depending on the product and origin. But the de minimis rule is still gone, and this new 15% tariff is hanging over everything like a particularly gloomy cloud. It’s a reminder that in the world of international trade, there are very few true victories, only temporary reprieves.

I’ve learned, over the years, that chasing yield requires a certain degree of cynicism. You have to be able to look past the headlines, the political posturing, and the endless stream of economic data. You have to accept that the market is rarely rational, and that even the best-laid plans can be derailed by unforeseen circumstances. And, occasionally, you have to settle for a slightly lower dividend than you’d hoped for. It’s not glamorous work, but someone has to do it. And honestly, it beats folding laundry.

2026-02-23 23:32

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