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Trump to Ban US Citizen Using Fintech Alipay to Wechat Pay

Anelis May by Anelis May
4 years ago
in Hot News
trump alipay

U.S. President Donald Trump sits during a meeting in the Cabinet Room of the White House in Washington, D.C., U.S., on Monday, Aug. 3, 2020. Trump said ByteDance Ltd.'s TikTok will have to close in the U.S. by Sept. 15 -- unless there’s a deal to sell the social network's domestic operations to Microsoft Corp. or another U.S. company. Photographer: Doug Mills/The New York Times/Bloomberg

Towards the end of his administration, the President of the United States (US), Donald Trump continues to attack Chinese technology companies. While it is not clear the effectiveness of Trump’s order. He still banned transactions with 8 Chinese applications. Including Ant Group’s Alipay. Trump has just signed the executive order which is valid 45 days from now, long after Trump has left office.

Citing CNN, Thursday (7/1/2021), the order will also target Tencent QQ Wallet and WeChat Pay, as well as the CamScanner application, SHAREit. , VMate, and WPS Office.

“The continuing activity of China and the ruling Chinese Communist Party to steal or obtain American data makes it clear that there is an intention to use mass data collection to advance China’s economic and national security agenda,” reads a section of the order.

Trump’s Order to Ban Downdloading WeChat Ran into Trouble

Trump has issued against Chinese tech companies previously ran into trouble. For example, Federal judges block an order to ban downloading of WeChat in the US. Several courts have also issued interim orders against government attempts to ban the TikTok app.

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“The Trump administration is still rushing on its list of punishments to limit US-China relations in the hope of encouraging China to retaliate. Worsen relations and tie Biden’s hands,” said Scott Kennedy, senior adviser to the Center for Strategic and International Studies in Washington.

He said, if this restriction was carried out because the application was considered annoying, then it had to be seen whether it would actually be implemented.

“The Biden administration is likely to review this and any other actions that Trump has put in place through executive action,” he said.

Read now: Alibaba Plans to Sell Up $5 Billion of Dollar Bonds

Tags: Alipaydonald trumpUS-ChinaWeChat Pay
Anelis May

Anelis May

I love all types of content. Financial news is my specialty though. Full time writer about Financial news, economics, market trends, politics enthusiast and more.

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