Meta/Facebook expected to lose up to $7b USD in ad-revenue after China tells retailers like Shein/Temu to stop US ad spend due to trade war

I didn't know that Chinese retailers bought Meta ads, but guess that makes sense since it includes Facebook but also Instagram.

The research note said that Chinese companies paid Meta/Facebook $18 billion in 2024 for ad revenue, which was 11% of Meta's total ad-revenue.

The note mentions that Beijing can instruct companies that are heavy spenders like Temu and Shein to pause ad spend with the American ad company, potentially costing Zuckerberg's ad giant up to $7 billion this year. I guess this is similar to telling the airlines to not accept Boeing planes anymore?
I wonder if Google will also experience ad-cuts?

Article is by CNBC, the research note is from MoffettNathanson
[https://www.cnbc.com/2025/04/22/meta-could-take-a-7-billion-hit-this-year-because-of-trumps-tough-china-tariffs.html](https://www.cnbc.com/2025/04/22/meta-could-take-a-7-billion-hit-this-year-because-of-trumps-tough-china-tariffs.html)