Finance Breaking news Trump signs executive order banning the use of Chinese payments apps last financial news
Breaking-Finance.Com - Outgoing US president Dionald Trump has signed an executive order banning transactions with ten Chinese apps, including Alipay and WeChat Pay.
Breaking-Finance.Com - Outgoing US president Dionald Trump has signed an executive order banning transactions with ten Chinese apps, including Alipay and WeChat Pay. The move is a blow to the aspiration of Ant Group and Tencent which have invested billions on exporting their technology across the globe.The Trump White House, which has been enaged in an aggressive pushback against Chinese firms operating on US soil, cites national security threats as the primary motivating factor.
. "The United States must take aggressive action against those who develop or control Chinese connected software applications to protect our national security," the order says.The document tasks the Commerce Department with defining which transactions will be banned under the directive within 45 days.The incoming Biden administration, which has yet to comment on Trump's actions, could quash the bill within days of entering office.
Source = Breaking-Finance.ComFinancial breaking news