As Beijing complains that the WTO that the Trump Administration’s attempt to ban TikTok violates international trade rules, the Trump Administration isn’t slowing down in its economic assault on the Chinese technology industry.
According to media reports, the administration is considering new restrictions on Ant Group and Tencent’s payment systems.
Stocks dumped on the headline, but the gap has filled fast.
By specifically going after the payment systems, the Trump Administration is taking a different approach on trying to curtail Chinese tech firms’ access to American markets and consumers. An American judge has already blocked the administration’s attempt to bar Tencent’s WeChat app from American app stores (while still allowing US companies like Apple to work with WeChat in foreign markets).
This content is provided by public RSS feed at https://feeds.feedburner.com/zerohedge/feed. Please contact us if you have any questions.