Chagee Holdings, a China-based teahouse chain, is aiming to raise $411 million in its upcoming US IPO, targeting a valuation of $5.1 billion. The company has set its IPO terms amid a backdrop of heightened stock market volatility, influenced by recent tariff measures imposed by former President Donald Trump. The IPO is expected to take place in the coming week, despite ongoing macroeconomic uncertainties stemming from an escalating trade war between the United States and China. Chagee's entry into the US market reflects a growing trend of foreign franchises seeking to capitalize on the demand for bubble tea and similar beverages in the country.