Trump scraps plan to ban China’s Alibaba, Tencent, Baidu: Source | Donald Trump News


Senior US officials were considering a plan to add the firms to the list of alleged Chinese military companies, which would subject them to a US investment ban.

United States President Donald Trump’s administration has canceled plans to blacklist Chinese tech giants Alibaba, Tencent and Baidu, four people familiar with the matter told the Reuters news agency, amid a widespread rift by Washington in Beijing. A brief answer was provided to the top corporates of.

Senior administration officials were considering a plan to add the firms to the list of alleged Chinese military companies, which would subject them to a new US investment ban.

But Treasury Secretary Steven Menuchin, widely seen as taking a more strict stance on China, put the plans on hold. Still, the Trump administration plans to go ahead with bidding to add nine other Chinese companies to the list this week, one of the people said.

The Treasury and State Departments and the Pentagon did not immediately respond to requests for comment.

The sudden decision was relieved by deep divisions within Washington over China’s policy, even as outgoing President Trump strengthened his tough-on-China legacy and presidential measures in aggressive measures against the world’s second-largest economy. Attempted to close Joe Biden.

Last month, the White House added China’s top chipmaker, SMIC, and oil giant CNOOC to the blacklist, as first reported by Reuters. Trump unveiled an executive order in January banning US transactions with eight Chinese apps, including Ant Group’s Alipay.

While Trump deferred trade agreements between rival countries, last year, relations between Washington and Beijing were talked about by China dealing with the deadly coronavirus and its crackdown on independence in Hong Kong.

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